Confirmation: New Zealand has no gold holdings

How much gold does the Reserve Bank of New Zealand have?

Gold Survival Guide

We’ve had the odd query from other New Zealanders asking “With all the recent reports of various Central Banks of the world buying gold, just how much gold does the Reserve Bank of New Zealand (RBNZ) actually have?

So we thought we should publish the specifics.  And we’re sorry to report folks, the news isn’t so great.

The RBNZ website has the following table:  (We’ve highlighted the gold related part in blue.  And the full table can be found here on the RBNZ website.)

Last time I checked a dash didn’t mean that the number was too big to report but was rather a simple alternative for the number zero.  So according to the RBNZ website, New Zealand has $0 worth of gold deposits from a grand total of zero fine troy ounces of gold.?

(For article with tables GO HERE)

Further confirmation of this comes from the World Gold Council.  They periodically take information compiled by the IMF to create a ranking of gold deposits of countries.

The lazy mans research site – Wikipedia means we don’t have to look too hard for the latest figures though.  The table below ranks each nation according to it’s officially reported gold holdings as of November 2009.

We can save you some time searching and state that unfortunately New Zealand does not feature – at all.

It’s a bit of a worry when the Central African Republic of Chad, which the U.N. reports as the 5th poorest nation on the planet, has more gold reserves than we do!

They may come in at number 101 on the list and only have 0.3 tonnes but that’s 0.3 ?tonnes more than us!  (Or about $15 Million NZD in Gold reserves more than New Zealand)?

Just like we believe the average person should have at least a small percentage of their liquid net worth held in gold, we too think the RBNZ would be wise to convert some of it’s foreign currency reserves into real money to ensure a store of value in a time when currencies the world over are being depreciated at ever greater speed.