Monetary gold

Monetary gold

Gold held by governmental authorities as a financial asset.

Monetary Gold

Gold owned by a government, usually as part of its currency reserves. While no country now uses a gold standard, many states hold monetary gold as a (small) part of the many things that determine a currency's value, the bulk of which is the reserve of foreign currencies. As such, monetary gold has a small role in determining nations' monetary policies. Monetary gold is not traded, except between central banks and occasionally with international organizations such as the International Monetary Fund. See also: Foreign Exchange, Reserve asset.
References in periodicals archive ?
The upward changes of the price of gold during last year made the value of the monetary gold which was kept in the country's reserves in the twelve months of 2011 to increase by 55 million euro.
8) Thus, in March 1933, FDR ended specie redemption of banknotes forever and began the confiscation of citizens' monetary gold.
Non monetary gold recorded a surplus of 594 million USD in January-July 2010, decreasing 80.
At present, monetary gold in Russia includes only standard bullions and plates.
These dual uses of gold imply that the demand for monetary gold should not be expected to be unit-elastic with respect to the price level, a result that we demonstrate formally in the next section.
The Federal Reserve Bank of New York holds the world's largest accumulation of monetary gold.
If prices of all goods and services and capital tend to fall, say, because of an increased demand for common money, the value of monetary gold being fixed in dollar terms rises in real terms, stimulating increases in the production and importation of gold and in the supply of gold to the mints.
In 1933, during the financial crisis brought about by the national depression, and faced with huge foreign outflows of gold, President Roosevelt nationalized the monetary gold owned by U.
The resulting export expansion and import shrinkage produces a trade balance surplus financed by inflows of monetary gold.
These cautionary commitments, by reducing competition for monetary gold, also helped sustain the gold standard's financial architecture.
Monetary Gold Stock (Millions of $) 1931 $ 1932 $ 1932 $ 1933 $ Sept.
After 1946, the report said, monetary gold looted by the Nazis was held by the Tripartite Commission in accounts in the Bank of England, the Bank of France and the Federal Reserve Bank of New York.