About Gold: World Gold Holdings

NOTES
* This table was updated on December 10, 2008 and reports data available on that date. Data are taken from the International Monetary Fund's International Financial Statistics (IFS), December 2008 edition, and other sources where
applicable. IFS data are two months in arrears, so holdings are as of October 2008 for most countries, September 2008 or earlier for late reporters. The table does not list all gold holders: countries which have not reported their gold holdings to the IMF in the last six months are not included, while other countries are known to hold gold but they do not report their holdings publicly. Where the WGC knows of movements that are not reported to the IMF or misprints, changes have been made. The countries showing as having 0.0 tonnes of gold report some gold but less than 0.05 tonnes to the IMF.

**The percentage share held in gold of total foreign reserves, as calculated by the World Gold Council. The value of gold holdings is calculated using the end-October gold price of $730.75 per troy ounce (there are 32,151 troy ounces in a metric tonne). Data for the value of other reserves are taken from IFS, table ‘Foreign Exchange and Total Reserves minus Gold’.

1. BIS and IMF balance sheets do not allow this percentage to be calculated. In the case of any countries, up to date data
for other reserves are not available.
2. Excluding gold out on swap.
3. West African Economic Monetary Union including the central bank.
4. As of November 1. Including gold on inward swap and excluding gold on outward swap.
5. Central African Economic and Monetary Union including the central bank.
6. Signatories to the first Central Bank Gold Agreement of September 1999 were the ECB and other Eurozone central banks (excluding Greece which was not a Eurozone member in 1999) plus Sweden, Switzerland and the UK. The second Agreement announced in March 2004 originally had the same signatories with the addition of Greece and the exclusion of the UK. Slovenia joined the agreement in December 2006, just prior to their adoption of the euro. Cyprus and Malta joined in January 2008, just following their adoption of the euro.

Canada has slipped just behind Bangladesh. Alphabetically, no doubt, that is where we should be! Problem being the sequence here is not alphabetical. Doesn't appear a "gold-backed" $C is even a remote possibility. With China lobbying for a "gold-backed" Yuan, tendering a proposal to purchase all or some of the IMF gold holdings at their next meeting, would that leave the $C somewhat "wanting?"

With the CPP recently purchasing a position in Agnico Eagle, is that a sign of government involvement in Canada's gold industry, or is that just a strategic investment of an equity addition to their portfolio?

RUF