articles | 29 March 2021

Cyprus Central Bank’s gold in store in 2020 amounted to €689.8 million

The Central Bank of Cyprus last year had in store gold valued at €689.8 million compared to € 605.7 million in December 2019.

Last year’s gold amounted to 446,975 ounces and the market value was €1,543 per ounce, according to CBC financial statements for 2020.

The unrealized gain in 2020 from the increase in the price of gold amounted to €84.1 million compared to €104.6 million in December 31, 2019.

The total increase in inventories based on the price of gold on December 31, 2020 in relation to the average acquisition cost – considered as unrealized gain – amounted to €657.7 million. This was €591.6 million in December 2019.

Source: In-Cyprus

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