in-cyprus 29 March 2021 - by Annie Charalambous
The Central Bank of Cyprus last year had in store gold valued at €689.8 million compared to € 605.7 million in December 2019.
Last year’s gold amounted to 446,975 ounces and the market value was €1,543 per ounce, according to CBC financial statements for 2020.
The unrealized gain in 2020 from the increase in the price of gold amounted to €84.1 million compared to €104.6 million in December 31, 2019.
The total increase in inventories based on the price of gold on December 31, 2020 in relation to the average acquisition cost – considered as unrealized gain – amounted to €657.7 million. This was €591.6 million in December 2019.
