After a long bull move gold is at a crossroads. Depending on who you talk to, the 15-year bull market in gold has ended or is taking a breather preparing for its next leg up.
The massive inflation predicted from the enormous liquidity poured into the system by central banks around the world has not arrived so gold has pulled back from its 2011 high. Gold is the most followed and globally traded commodity. But not just by retail investors watching late night TV. While there is no more gold standard, governments maintain a reserve quantity of gold.
Although gold (COMEX:GCV14) has industrial applications, gold is a monetary asset and its prime driver is investment demand. We take a look at the top reported official gold holdings of individual countries (as of June 2014) based on information from the World Gold Council.