Last Updated :
29 July 2010 at 14:10 IST
Sri Lanka gold reserves value hit $700 million
COLOMBO (Commodity Online) : Sri Lanka’s
Gold reserves value rose to $700 million with the purchase of 21 metric tons of gold in recent times.
According to country’s central bank, it has been able to amass record gold reserves by taking steps within the past 10 months to purchase 21 metric tons of Gold - an increase from the paltry two to three tons of gold in its vaults not so long ago.
The bank said there was a trend showing an escalation of gold prices in the world market on a daily basis. At such a time the success of the Central Bank in raising its
Gold deposits was an indication of the country’s economic strength.
The bank added that it will at no time barter it away that would be disadvantageous or unprofitable to the country.
While succeeding in expanding its gold reserve base the Central Bank has also been able to earn Rs 10 billion from its overseas investments - a special feature being that what the CB had earned from its overseas investments for the whole of last year was equalled in January alone this year.
MCX WHEAT 20 February 2012
contract was trading at
Rs 1201.7 , up Rs. 35 . What's your view on it?
After reading this article, people also read:
