The US currently holds more than 8,100 tonnes of gold, nearly equal to the next three countries, Germany, Italy and France, combined, according to the World Gold Council.
Gold is an important component of central bank reserves worldwide, thanks to its safety, liquidity and profitability, the World Gold Council (WGC) said. These are the three basic investment objectives of central banks. Therefore, these agencies are also the world's largest gold holders, accounting for 20% of the gold mined globally to date.
Using data from the International Monetary Fund (IMF), the WGC recently released a list of countries with the world's largest gold reserves, as of the third quarter of this year.
1. America
Gold reserves: 8,133 tons
The US gold reserves are nearly equal to the next three countries combined. This amount of gold is currently worth more than 500 billion USD, mainly stored in Fort Knox and the gold vaults at the New York Fed.
2. Germany
Gold reserves: 3,352 tons
During the period 2012 - 2017, Germany repatriated a huge amount of gold reserves, about 700 tons, from Paris and New York to Frankfurt. Gold mining activities in Germany are not active. The gold in their warehouses is mostly imported or recycled domestically.
3. Italy
Gold reserves: 2,451 tons
The gold is currently held in vaults in Rome, the Swiss National Bank, the US Federal Reserve and the Bank of England. Despite several periods of financial difficulty, the Italian government has no intention of selling its gold reserves.
4. France
Gold reserves: 2,436 tons
Most of this gold was purchased by France in the 1950s and 1960s. It is kept in the vaults of the Banque de France. The country's gold reserves have remained virtually unchanged over the past few years.
5. Russia
Gold reserves: 2,329 tons
In 2022, Russia will be the world's third-largest gold producer, with about 300 tons a year, after China and Australia. The Russian Central Bank has recently increased its gold reserves, to diversify its assets and avoid dependence on the US dollar.
6. China
Gold reserves: 2,113 tons
China is a major player in the gold market, both in terms of production, consumption and reserves. The People’s Bank of China (PBOC) has recently increased its gold reserves to hedge against inflation. The China Gold Association said that the country’s gold demand is also the world’s largest, with 835 tonnes in the first three quarters of this year, thanks to a growing middle class.
7. Switzerland
Gold reserves: 1,040 tons
Switzerland - the financial center of the world - currently holds about $66.1 billion worth of gold reserves. This gold is managed by the Swiss National Bank and serves as the financial pillar of the country. Gold mining in Switzerland is quite limited. Therefore, the gold they own is mainly imported. In 2022, they were the world's largest gold importer.
8. Japan
Gold reserves: 845.9 tons
Japan's gold reserves, managed by the Bank of Japan (BOJ), are currently worth $52 billion. The country is home to the Hishikari gold mine, known for its high quality. However, due to limited domestic reserves, Japan mainly imports gold.
9. India
Gold reserves: 800 tons
In 2022, India was the world’s second-largest consumer of gold. Most of the gold it needed was imported. Festivals and weddings in the country are always lucrative times for gold companies.
10. Netherlands
Gold reserves: 612 tons
In 2014, the Netherlands repatriated 20% of its gold reserves from the vaults of the US Federal Reserve in New York. The country's gold reserves have remained unchanged for several years.
Ha Thu (according to WGC, TRT World)
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