Middle East Economic Survey

VOL. LIII

No 26

28-Jun-2010

SAUDI ARABIA

Saudi Gold Reserves Estimate Doubled

Saudi Arabias reserves of gold are twice as large as previously thought, it was estimated last week by the World Gold Council (WGC), an industry group that tracks gold bullion holdings. A report estimated the amount of gold the Saudi Arabian Monetary Agency (SAMA) holds as part of its foreign exchange reserves at 322.9 tons, more than double the 143 tons reported by the central bank in March....