Posts Tagged ‘reserve’

Top ten gold reserves

Top ten gold reserves

Top ten gold reserves

The gold reserve represents the actual gold held by the central bank of a country or by a major financial organization. The gold is the main form of storing value being also a guarantee that the holder can redeem financial promises. The gold reserve held by central banks is also used to secure the national currency, the higher gold reserve making the currency more stable.

Since the ancient times this shiny yellow metal was considered very valuable and had been used for different purposes. Gold kept its value over time and is still important in the economic and financial areas. (more…)

Top ten states by gold reserves

Top ten states by gold reserves

Top ten states by gold reserves

Gold is considered a sign of wealth since ancient times. This metal is shiny and soft, and being so malleable was often used for state of the art jewelry and decorations. The gold was also used for a very long time in coinage.

Specialists estimate that the total volume of gold mined throughout the human history represents more than 150,000 tonnes.  More than half of the gold held worldwide is jewelry while 20% represents national reserves held in central banks. (more…)

Venezuela has the world’s largest oil reserve

Venezuela has the world’s largest oil reserve

Venezuela has the world’s largest oil reserve

A US Geological Survey says that Venezuela has much more oil than we all know. The scientists estimate that Venezuela’s Orinoco oil belt holds 513 billion barrels of recoverable heavy crude. This is twice as much as Saudi Arabia’s reserve, the country that was considered to hold the biggest reserve in the world with proven reserves of 260 billion barrels. (more…)