Canada Nearly Done Selling Gold Reserves - Gainesville Coins News
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Canada Nearly Done Selling Gold Reserves

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Canada Nearly Done Selling Gold Reserves

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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About the Author

Everett Millman

Steven Cochran

Precious Metals Market Analyst
BS University of South Florida (2002)

A published writer, Steven's coverage of precious metals goes beyond the daily news to explain how ancillary factors affect the market.

Steven specializes in market analysis with an emphasis on stocks, corporate bonds, and government debt. He writes a monthly review of the precious metals markets for SurvivalBlog.com.

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