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Yaoundé - 21 June 2021 -
Economy

CEMAC: BEAC gold reserve’s value rose by XAF25.8 bln at end-2020, spurred by improved market prices

CEMAC: BEAC gold reserve’s value rose by XAF25.8 bln at end-2020, spurred by improved market prices
  • Comments   -   Friday, 04 June 2021 14:19

(Business in Cameroon) - In 2020, the Bank of Central African States (BEAC)’s gold reserve was stable, according to the report on the state of the central bank’s dealing room as of December 30, 2020.

As of that date, the gold reserve was 201,903.398 ounces, the same as it was in end-2019. Although the volume was stable, the value was up, we learn. According to the BEAC’s report, that value rose from XAF178.656 billion at the end of December 2019, to XAF204.493 billion. This represents a rise by XAF25.8 billion.

The rise in value was due to the favorable evolution of the prices per ounce of gold during the period. Indeed, the price of an ounce of gold rose during the period, going from €1,349.21 as of December 31, 2019, to €1,544.05 as of December 31, 2020,” the report explains.

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