Ukraine’s Central Bank chief has divulged some shocking intel: its gold stockpile has reached a new nadir – almost zero. Since the beginning of the year, gold reserves have dropped nearly 16-fold, which begs the question, where did all of it go?
“Official statistics of the National Bank show that the amount of gold in the vaults drastically fell, and it is unclear where it went. At the beginning of this month, the volume of gold was about $1 billion, or 8 percent of the total gold reserves,” the head of Ukraine’s National Bank, Valeria Gontareva, said in an interview with Ukraine’s Kharkiv TV.
As of November 1, the latest available data, foreign currency reserves stood at $12.6 billion, which puts Ukraine’s national gold stockpile at just $123.6 million, ZeroHedge reported.