Wikipedia
A gold reserve is the gold held by a national central bank, intended as a store of value and as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money), or trading peers, or to secure a currency.
It has been estimated that all the gold mined by the end of 2011 totalled 171,300 tonnes. At a price of US$1,500 per troy ounce, reached on 12 April 2013, one tonne of gold has a value of approximately US$48.2 million. The total value of all gold ever mined would exceed US$8.2 trillion at that valuation.
However, there are varying estimates of the total amount of gold mined to date, mainly because gold has been mined for thousands of years around the world. Another reason is that some countries are not particularly open about how much gold they are mining. In addition, it is difficult to account for gold output in illegal mining activities.
Gold Reserve Inc. (, ) is a gold mining company with operations and mining property in Bolivar State, Venezuela.
Founded in 1956, Gold Reserve Inc. is now headquartered in Spokane, Washington. The company has about ten employees at its Washington office and about 55 in Venezuela. Of these 55, approximately 33 are located at the Brisas project site near the small community of Las Claritas in Venezuela.
As a part of the 2016 settlement of a dispute over withdrawal of a gold concession to Gold Reserve the government of Venezuela entered into a joint venture with Gold Reserve to exploit the Brisas and Las Cristinas goldmines.
Usage examples of "gold reserve".
This Fassotti-or Ardenti-had convinced the industrialist that the treasure of Dongo, the legendary Fascist gold reserve, was still lying at the bottom of Lake Como.
I doubted that there was this much gold reserve in the whole Turkish National Bank!
He was happy totin' home the gold reserve of the Hanoverian Bank and Trust Company when they caught on to it.
Hillyard, Cleef benefited because its gold reserve was always there to maintain confidence.
Spain's already shaky economy nearly toppled after a large government gold reserve vanished from the secret vaults of the Ministry of Treasury.