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by Guillermo Barba, author of Inteligencia Financiera Global in Mexican Forbes.
The Bank of Mexico (Banxico) has become one of the first central banks in the world to reveal its gold bar list.
In this space we have recommended that Banxico and any other investor with positions in gold as a store of value and financial insurance should maintain physical possession of its bars, or at least, store them in a secure vault on an allocated basis.
Last December, thanks to an official Request for Information by means of the Transparency Law, Banxico informed us that:
‘Of the 3.881 million ounces of gold that the Bank of Mexico has at the end of October 2016, 98.95% are held in the United Kingdom, 0.0004% at the Federal Reserve Bank in the United States and the remaining 1.05 % in Mexico.’
Banxico also told us that it had a total of 7,265 gold bars in allocated accounts at The Bank of England (BoE), which means that only about 2.9 million ounces are well identified with serial number, brand code, gross weight, assay and fine weight at that location.
Looks like the majority of it is in England, most of which is allocated.