12.44 Kg Gold Bar Presented in Croatia for First Time
- by croatiaweek
- in News
For the first time in Croatia a gold bullion weighing 12.44 kg and valued at 500,000 euros has been presented.
On Tuesday the gold bar was presented at the offices of gold traders Moro & Kunst in the capital Zagreb.
The 12.44 kg gold bullion will be exhibited for the public to see in the foyer of the offices at Eurotower until 3 pm on Tuesday 13 December.
According to the World Council of Gold, Croatia does not have its own gold reserves, while a number of the world powers have a significant percentage of cash reserves kept precisely in gold.
Most gold bars in the world are kept in vaults in the United States – 8,133.5 tonnes of gold (653,818 gold bars). Germany is next with 3,377.5 tons of gold (271,535 bars) and the International Monetary Fund (IMF) next with 2,814 tons (226,205 bars).
Italy, France, China, Russia, Switzerland and Japan are also in the top 10 Moro & Kunst said.
Gold bullion – London Good Delivery Bar approved – is generally the only precious metal traded on leading international markets. The weight of the bar which is being seen for the first time in Croatia, is 400 ounces of gold or a weight of 12.44 kgs.
The value is around 500 thousand euros, depending on the movement of gold prices in the world markets. Its value on 12 December at 12:00 pm was 35,0429 euros.