How large is Danmarks Nationalbank’s gold stock?
Danmarks Nationalbank has around 66.5 tonnes of gold.
What is the value of Danmarks Nationalbank’s gold?
At the end of 2024, the value of the gold was kr. 40.3 billion. However, the price of gold fluctuates, and with it the value of Danmarks Nationalbank’s gold stock.
Why does Danmarks Nationalbank have gold reserves?
For historical reasons, Danmarks Nationalbank, like many other central banks, has gold reserves. Previously, banknotes could be exchanged for gold coins or gold bars at Danmarks Nationalbank. This is why the Danmarks Nationalbank Act of 1936 specifies that Danmarks Nationalbank must have gold reserves equal to at least 25 per cent of the banknotes in circulation, while gold stored abroad cannot be included in the gold fund for an amount greater than 5 per cent of the total active note circulation.
Under section 13 of the Act, the Board of Directors may, after having obtained the permission of the Royal Bank Commissioner (the Minister for Industry, Business and Financial Affairs), grant permission to deviate from the requirement for gold coverage of banknotes in circulation of 25 per cent and the location requirement. This derogation was first granted in September 1939, and its renewal remains a regular item on the agenda of the quarterly meetings of Danmarks Nationalbank’s Board of Directors. As the banknote circulation has decreased over the years and the value of gold has been increasing, the gold reserve is sufficient to cover at least 25 per cent of the banknote circulation. Therefore, it is currently only the location requirements of the law that the Board of representatives dispenses with.
Where is Danmarks Nationalbank’s gold stored?
Most of Danmarks Nationalbank’s gold is stored at the Bank of England, where Danmarks Nationalbank has held gold since its gold reserves were moved for security reasons during the Cold War. Danmarks Nationalbank conducts regular inspections of the bank’s gold stock with the Bank of England. The most recent inspection was carried out in September 2022 without any remarks.
Read more in this Gold Bar List.
What does a bar of gold weigh?
A gold bar weighs 12.5 kg on average.
Can you buy gold at Danmarks Nationalbank?
No, Danmarks Nationalbank does not trade in gold.