How large is Danmarks Nationalbank's gold stock?
Danmarks Nationalbank owns approximately 67 tonnes of gold.
What is the value of Danmarks Nationalbank's gold?
At the end of 2020, the value of the gold stock was kr. 24.5 billion. The price of gold may fluctuate and with it the value of Danmarks Nationalbank's gold stock.
Why does Danmarks Nationalbank have a gold stock?
For historical reasons, Danmarks Nationalbank, like many other central banks, has a gold stock. 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. That is the reason why the Danmarks Nationalbank Act of 1936 specifies that Danmarks Nationalbank must possess gold covering 25 per cent of the value of banknotes in circulation, but an exemption from the gold coverage provision has been in place since 1939. When the Act was written, it was expected that the gold standard, which Denmark had left in 1931, would be reintroduced.
Where is Danmarks Nationalbank's gold stored?
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 made its most recent inspection of its gold in the Bank of England.
What is the weight of one single gold ingot?
The average weight of a gold ingot is 12.5 kilos.
Is gold sold at Danmarks Nationalbank?
No, Danmarks Nationalbank does not trade in gold.