Portugal’s gold reserves increase in value by €1.535 billion in just one year

The good news in a week when Portugal heard it was exiting the excessive deficit procedure is that the Bank of Portugal has announced that the country’s 382.5 tons of gold bars have increased in value since last year by €1.535 billion. The not-so-good-news is that in 1974, the country held 866 tons of gold, and as historians have explained, Portugal may have little right to it (click here)