Source: Tanjug | Thursday, 15.10.2020.| 12:05
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Serbia Has Largest Gold Reserves in the Balkans

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Illustration (Photo: stockernumber2/shutterstock.com)
With 32 tons of gold, Serbia is the country with the largest gold reserves in the region, as shown by the data of the National Bank of Serbia and the World Gold Council.

According to the NBS' data, the country had 32.12 tons of gold, worth EUR 1.66 billion, that is, USD 1.95 billion, at the end of September.

Around 96% of the gold is kept in the form of golden bars, and the remaining 4% is kept as coins.

When it comes the keeping the gold reserves, two thirds are kept in the central bank's safe, whereas a third is kept on the NBS' accounts in secure foreign institutions. Gold reserves make up 12.7% of Serbia's FX reserves.

According to the data of the World Gold Council for the second quarter of 2020, reported by Blic, the biggest gold reserves in the Balkans, after Serbia, belong to North Macedonia, at 6.89 tons.

Slovenia has 3.17 tons, Bosnia and Herzegovina 2.98 tons and Montenegro 1,090 kilograms, inherited from the former Yugoslavia.

Croatia does not have gold reserves, as it has sold its gold.
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