Gold Holdings in ETPs Overtake Italy, France Reserves, RBS Says
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Gold holdings in exchange-traded products backed by the metal have topped reserves held by Italy and France, according to the Royal Bank of Scotland Group Plc.
Assets rose 32 metric tons to a record 2,469 metric tons last month, Nick Moore the head of commodity research at RBS in London, said in a report dated today. The U.S. has the biggest reserves, followed by Germany and the International Monetary Fund. As of Sept. 30, Italy’s holdings were 2,451.84 tons, and France had 2,435.41 tons, World Gold Council data showed.