As the economy of the world fluctuates, investors seek safety in tangible assets like gold. Additionally, gold is a strategic asset that many countries hold to protect their economies. Globally, there is over 28,000 tonnes of gold held in reserves. Here’s a look at the top 10 countries in the world that have the most gold in their reserves.
1. The United States of America – 8,133.5 tonnes
The USA is the largest holder of gold reserves in the world, with a whopping 8,133.5 tonnes in its vaults. This is despite the US selling off a part of its gold reserves in 2013. The IMF also used to be the largest owner of gold but sold off a portion of its reserves in 2015.
2. Germany – 3,363.7 tonnes
Germany holds the second-largest amount of gold reserves globally. The country shows no interest in selling off any of its gold reserves as it sees them as a reliable asset in times of economic stability.
3. International Monetary Fund (IMF) – 2,814 tonnes
The IMF is the third largest holder of gold reserves in the world with 2,814 tonnes. Although, the IMF has sold off a significant portion of its gold reserves and has been receiving more gold deposits from central banks and institutions in recent years.
4. Italy – 2,451.8 tonnes
Italy is the fourth largest holder of gold reserves with 2,451.8 tonnes. The country has seen a steady increase in its reserves since 2009.
5. France – 2,436.1 tonnes
France holds 2,436.1 tonnes in its vaults, making it the fifth largest holder of gold reserves in the world. The French Central Bank is the largest buyer of official gold in the world.
6. China – 1,842.6 tonnes
The People’s Republic of China has significantly increased its gold reserves in the last decade. The country holds 1,842.6 tonnes gold in its reserves.
7. Russia – 1,812.4 tonnes
With 1,812.4 tonnes in its reserves, Russia is the seventh largest holder of gold in the world. The country has been buying more gold since 2011 to reduce its dependence on US dollars.
8. Switzerland – 1,040 tonnes
The Swiss hold 1,040 tonnes of gold in their reserves, making them the eighth largest in the world. The Swiss National Bank is one of the few central banks in the world to have declared a no-sale policy on gold.
9. Japan – 765.2 tonnes
Japan has 765.2 tonnes of gold in its vaults to make them the ninth largest gold reserves holders in the world.
10. India – 618.2 tonnes
India is the tenth largest holder of gold reserves in the world. The country recently increased its gold reserves to 618.2 tonnes, making it one of the top 10 gold reserve holders in the world.
Gold, being one of the most reliable assets in the world, is held in reserves by most countries. Although not all countries publish the figures of the amount of gold they have in their reserves, the countries mentioned in the article have significant holdings to protect their economy in times of crisis.