Canada Nearly Done Selling Gold Reserves

February 18th, 2016 by

Canada may be one of the largest gold miners, and will be happy to sell it to you, but they don’t seem to care for keeping any for itself. The CBC noted last Friday that the Canadian government has sold nearly all of the nation’s gold reserves.

Gold reserves in Ottawa have shrunk from a paltry $100 million last year, to just $19 million worth of bullion. That’s just 1/10 of 1% of Canada’s currency reserves. From a high in the 1960s of 1,000 metric tons of gold, less than 1 ton remains in its treasury.

 

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