Top 10 countries with the largest gold reserves in the world – What Countries Have the Largest Gold Reserves – Gold reserve by country
In the economy, gold is always a safe asset, holding a unique position to reserve. Developed economies such as the US, Japan, China, Germany, etc., all appear on the list of countries with the largest gold reserves in the world. Let’s find out the Top 10 countries with the largest gold reserves in the world in this article of Top10theworld.com!!!
Countries with the Largest Gold Reserves in the World’s Chart:
The United States
The top 1 of the 10 countries with the largest gold reserves in the world is The United States deserves with a total of more than 8133 tons of gold. This country’s amount of gold is so large that it is equal to Germany, Italy, and Russia combined.
Currently, the amount of gold in the United States is not stored in a single location. It is understandable because the volume is too large. But the amount of gold is divided equally into many gold warehouses scattered throughout the US territory.
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Germany
The second place in this ranking is none other than once-mighty Germany with many large-scale enterprises such as BMW, Mercedes-Benz, Porsche, Bosch, etc. These companies are the source of power, creating a considerable surplus for their country.
According to statistics, Germany currently owns more than 3359 tons of gold. Notably, they are kept in the country and divided equally among major central banks worldwide, such as at the United States Federal Reserve (FED) based in New York City. They are also kept at the Bank of England and the Bank of France.
Italy
In other countries, the national gold reserve is under the state’s responsibility and the country’s central bank. In contrast, in Italy, the Banca d’Italia central bank is the authority in this regard.
This substantial national wealth is stored domestically in Rome’s city and divided up to be stored at the Swiss Bank. It is also kept at the US Federal Reserve (FED) and the Bank of England.
In 2019, in the face of the economic crisis, the government of Italy still confidently informed its people that they would not sell even 1 gram of the country’s gold to fill the gaps in the economy.
France
France is the 4th largest gold producer in the world. Most of the gold reserves of this country in the 4th place have been since the 50s and 60s of the 20th century.
According to annual statistics, the total amount of gold they currently hold is more than 2436 tons of gold, in addition to a tiny part divided and deposited with foreign central banks. Most of their gold reserves are kept and strictly protected in the vaults of the Bank of France located in the magnificent capital of Paris.
Russia
It is worth mentioning here that to surpass China and rise to this position, in recent years, Russia has continuously spent heavily on increasing its gold reserves to target. The main goal is to reduce the dependence of the economy on the US dollar. At the same time also make a small impact on other countries for the same purpose.
In addition, in the domestic market, this country also owns an advanced mining industry worth billions of dollars, including gold mining. Thanks to the investment in this field, it has helped Russia reduce its dependence on gold from other countries.
China
As a vast billion-people economy with the second position in the world after the United States, it is natural that China also participates in this ranking and is in 6th position.
China is known as the leading gold producer and exporter globally, with a market share of up to 12%. However, they only modestly ranked 6th, with the total gold reserve of the country being more than 1948 tons of gold.
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Switzerland
Swiss banks have long been known as the safest places to deposit money in the world. So it is not surprising that the majority of the country’s gold reserves are stored within the country. But, a small portion is currently deposited in the two central banks of Canada and the United Kingdom.
Currently, the country’s gold reserves are at 1040 tons. This number remained the same after the referendum held by the government of this country in 2014. The people agreed to keep the ratio of gold reserves at 70% rather than raise this level to 20%.
Japan
The second Asian country in the list of countries with the largest gold reserves globally is Japan. Although small spread across the country, they currently hold more than 845 tons of gold in their treasury as blessed with gold reserves.
At the end of last year (2020), the government of Japan tried to take measures to stimulate the economy quickly. They have overcome the difficulties caused by the COVID-19 pandemic by using more than 80 tons of gold to deduct through another agency in the country for minting.
India
Nesxt is India Gold Reserves. India is the only country in the list of countries here that mainly import gold from abroad. Because the typical Indian culture likes to wear rings, necklaces, and jewelry in general made of gold, the domestic supply of gold is still insufficient.
At the same time, it also makes the people’s gold reserves very large. Thus, it helps India be at the top of countries with an enormous amount of gold globally with over 703 tons of gold.
Netherlands – Countries with the largest gold reserves
The beautiful Netherlands is in the last position in the top 10 countries with the largest gold reserves in the world. According to statistics in their country’s gold warehouse, they currently have more than 612 tons of gold.
Here are the Top 10 countries with the largest gold reserves in the world of Top10theworld.com at the moment. If you find this article helpful, please share it with others!
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Edit & Update: 11/2022