A gold ingot weighs 12.5 kilos on average, but the price of gold can fluctuate considerably. At the end of 2020, the value of Danmarks Nationalbank's gold stock was kr. 24.5 billion.
Most of Danmarks Nationalbank's gold is stored at the Bank of England, where it has been since it was moved for safety reasons during the Cold War. In October 2018, Danmarks Nationalbank inspected its stock of gold in the Bank of England.
Danmarks Nationalbank's gold constitutes 0.2 per cent of the central banks' aggregate stocks of around 32,000 tonnes of gold. It is estimated that central banks hold just under one fifth of all the gold extracted in the world, which is 174.100 tonnes.
For historical reasons, many central banks hold stocks of gold, which used to play a key role in the international monetary system. Previously, the value of money was linked to the price of gold, and the amount of money in circulation was given by the central bank's gold stock. For further information about the role of gold in the monetary system, see the article in the right-hand box.