Saturday, August 27, 2016

Now Norwegian Central Bank Discloses Nearly $1 Billion in US Gold and Silver Mining Shares!

There's an awful lot of gold being accumulated by central banks.

Here are the gold and silver mining shares disclosed by Norges Bank and their values* as of June 30, 2015.
norwegian bank gold and silver mining share

Via  Smaulgld.


  1. Is $1 billion a lot? What is there entire portfolio value?

  2. It's around 7000 billion NOK, which is ballpark 1000 billion usd, or a trillion I believe you say.

    It's called 'Statens pensjonsfond utland'
    Roughly translated 'the pensionfund for the state, abroad'.

    The policy is for the government to use maximum 4% of the growth of this fund yearly, to cover running expenses.

    This is called 'handlingsregelen', 'the rules of engagement.

    There are a lot of ethical guidelines as to what we can put the money in (no coal, no tobacco, etc), and we're running out of places to put all the money.

    60% stocks, 35% interest bonds, 5% property