Canada is the only G7 country that owns ZERO gold. They finished selling in early 2016 and kept 77 ounces of coins, which is about $400,000 worth. The final sale was 95,817 ounces at an average of $1,274.70, for around $122 million. At today’s prices that’s roughly $495 million. So that batch alone cost them about $374 million. But that’s not the real number… In 1965 Canada held 1,023 tonnes. That’s 32.9 million ounces. They spent the next 50 years selling it off. At today’s price that hoard would be worth roughly $170 billion. Canada’s entire foreign currency reserves are about $126 billion. The gold they sold would be worth more than everything they currently hold. The reason given was diversification. Move away from physical commodities into liquid financial assets. The best part is that Canada is the fourth largest gold producer on earth. They mined 200 tonnes last year, worth about $15 billion. They dig it out of the ground, sell it to other central banks, and hold none of it.