10 countries with the largest gold reserves in the world

The US currently holds more than 8,100 tons of gold, nearly as much as the next three countries, Germany, Italy and France, combined, according to data from the World Gold Association.

The World Gold Council (WGC) said gold is an important component in the reserves of central banks globally, thanks to its safety, high liquidity and profitability. These are the three basic investment objectives of central banks. Therefore, these agencies are also the world's largest gold holding group, accounting for 20% of the gold mined globally to date.

Using data from the International Monetary Fund (IMF), WGC recently published 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

America's 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 the Fort Knox gold warehouse and 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 nearly 700 tons, from Paris and New York to Frankfurt. Gold mining activities in Germany are not vibrant. The gold in their warehouses is largely imported or recycled domestically.

3. Italy

Gold reserves: 2,451 tons

This amount of gold is currently stored in vaults in Rome, the Swiss Central Bank, the US Federal Reserve and the Bank of England. Despite many times of financial difficulties, 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 50s and 60s. They are kept in the gold vaults of the Bank of France. The country's gold reserves have remained almost unchanged over the past few years.

5. Russia

Gold reserves: 2,329 tons

In 2022, Russia is the world's third largest gold producer, with about 300 tons a year, after China and Australia. The Central Bank of Russia recently increased its gold reserves to diversify assets and avoid dependence on US dollars.

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 Central Bank of China (PBOC) recently increased gold reserves to prevent inflation. The China Gold Association said gold consumption demand in this country is currently the largest in the world, with 835 tons in the first three quarters of this year, thanks to the increase in the middle class.

7. Switzerland

Gold reserves: 1,040 tons

Switzerland - the world's financial center - currently has gold reserves worth about 66.1 billion USD. This gold is managed by the Swiss Central Bank and serves as a financial pillar for the country. Gold mining activities in Switzerland are quite limited. Therefore, the gold they own is mainly imported. In 2022, they are 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 USD. The country is home to the famous Hishikari gold mine, which is famous for its high quality. However, due to limited domestic reserves, Japan mainly imports gold.

9. India

Gold reserves: 800 tons

In 2022, India will be the second largest gold consumer in the world. Most of the gold they need must be imported. Festivals and wedding seasons in this country are always lucrative business 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. Over the past few years, the country's gold reserves have not changed.

This year 131 international organizations, from 73 countries, partnered with the PRA in Washington, D.C., and its Hernando De Soto Fellow Prof. Sary Levy-Carciente to produce the 17th edition of the IPRI..
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