Koos Jansen
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Koos Jansen
Posted on 27 Jan 2015 by

Netherlands Did Not Increase Gold Holdings In December

Many newswires are reporting the Dutch central bank has increased its gold holdings by 10 tonnes in December 2014. However, the increase in holdings is not shown on the balance sheet of the central bank of the Netherlands.

Screen Shot 2015-01-27 at 2.47.37 PMJust a  moment ago the Dutch central bank (DNB) officially denied the increase of its precious metals holdings. So we can rest assure DNB did not buy any gold.

From the DNB website:

DNB has not increased its gold holdings

Press release. 27 January 2015

De Nederlandsche Bank (DNB) has not increased its gold holdings. Several media reported this Tuesday that based on IMF figures, DNB’s gold stock increased in December 2014. This is incorrect.

DNB’s correct and current gold holdings can be verified at http://www.statistics.dnb.nl/usr/statistics/excel/t12.25ek.xls. The table shows that in December 2014, DNB’s gold stock consisted of 19.691 million fine troy ounces and remained unchanged compared to all preceding months.

This is the same information that DNB reports to the IMF on a monthly basis.

DNB released the announcement on Twitter at about 3 PM GMT+1. I made the screen shot of their balance sheet half an hour before this announcement. That’s all I know.

Koos Jansen
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  • Navigator

    Obviously the question is which Central Banks we can trust and which are not trustworthy like the SNB and FED. Do you trust what the DNB says?

    • John_Rambo

      No bank can be trusted.

      • SPM Geldof

        Nout Wellink, former president of the DNB, former chair of the BIS and current only western boardmember of PBOC said to have once said: “you are only allowed to lie about two things, interest rates and gold”

  • dress

    Even if they increased their gold holdings they can’t admit it after Draghi’s statement everything was considered to buy except gold. So every European central bank has to hold the line. Just imagine what would happen if Germany would increase their gold holdings and made it public. Gold would soar like hell and the € would be free falling.

  • DameEdnasPossum

    The Dutch may have…or they may not have.

    But Russia certainly did…and by 20 tonnes.

    And here’s what it’s all about: http://orientalreview.org/2014/12/25/grandmaster-putins-trap/

    • Matthew

      It’s global production for about 3 days.

  • Ahken Ahmed

    On topic and mentioned in a related article:


    Koos, can you comment on the amount of gold being held by the Ukraine CB as quoted in this Reuters article? In short, did not their CB admit recently they have no (or very little) gold ? In fact, they had been duped by painted lead bars?

    An excerpt from the the article says: “Ukraine, which has seen renewed conflict with pro-Moscow separatists and is also struggling with economic growth, seems to have taken a pause in selling its gold holdings.

    It sold about 16 tonnes of gold in October and November, but Tuesday’s data showed that its bullion reserves were steady at 23.64 tonnes in December”

    I’d sincerely appreciate your view and thank you kindly

    • DameEdnasPossum

      Technically speaking, Ukraine has been shafted. Just ask Vicky Nudelman.

      • Ahken Ahmed

        LOL .. Indeed, just that it’s hard to let this bulls hit Reuters article pass off as news and it needs to be refuted in a public forum.

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