Germany, with 3,362.4 tons of gold. Italy, with 2,451.8 tons of gold. France, with 2,436.2 tons of gold. Russia, with 2,298.5 tons of gold.
China, with 1, 958, 3 tons of gold. Switzerland, with 1,040 tons of gold. The United States has the largest gold reserve in the world by a substantial margin. The government has almost as many reserves as the next three countries with the largest gold reserves combined (Germany, Italy and France).
Russia completes the top five. The International Monetary Fund (IMF) is reported to have more gold reserves than Italy, but less than Germany. Gold has served as a medium of exchange, to varying degrees, for thousands of years. For much of the 17th and 20th centuries, paper money issued by national governments was called gold and acted as a legal claim to physical gold.
International trade was carried out with gold. For this reason, countries needed to maintain a gold reserve for both economic and political reasons. No contemporary government requires that all its money be backed by gold. However, governments still house enormous quantities of ingots as a security measure against hyperinflation or another economic calamity.
In fact, every year, governments increase their gold reserves, which are measured in metric tons, in hundreds of tons. . For many investors, both institutional and retail, gold is a hedge against inflation or recession. Continue to safeguard gold that belongs to other countries.
The Federal Reserve Bank of New York is the depositary of gold owned by foreign governments, foreign central banks, and official international organizations. Inside a vault at the Federal Reserve Bank of New York. It is known to contain the largest amount of gold in the world. Gold reserves by country.
S%26P Global. The Central Bank of Russia tries to boost gold exports by paying below the market price. Board of Governors of the Federal Reserve System. Does the Federal Reserve own or hold gold?.
The top 10 central banks with the largest gold reserves have remained largely unchanged over the past few years. The United States is in first place with more than 8,000 tons of gold in its vaults — almost as much as the next three countries combined — and represents 79% of total reserves. The only countries where gold represents a higher percentage of reserves are Portugal, with 80.1%, and Venezuela, with 82.4%. The Central Bank of the Netherlands announced that it will move its gold vaults from Amsterdam to Camp New Amsterdam, approximately one hour from the city, citing the onerous security measures of its current location.
As many others have pointed out, this seems strange, given that the bank recently repatriated a large amount of its gold from the United States,. It's no wonder that the Bank of India has one of the largest gold reserves in the world. The South Asian country, home to 1.25 billion people, is the second largest consumer of precious metals and is one of the most reliable drivers of global demand. India's festival and wedding season, which runs from October to December, has historically been a great advantage for Love Trade, the gold.
In seventh place is Switzerland, which actually has the largest per capita gold reserves in the world. During World War II, the neutral country became the center of the gold trade in Europe, making transactions with both the Allies and the Axis powers. Nowadays, much of its gold trade is done with Hong Kong and China. France's central bank has sold little of its gold in recent years.
The current reserves consist of 100 tons of gold coins and the rest of ingots weighing about 12.5 kilograms each. The vaults of the Bank of France in Paris are one of the four designated custodians of the International Monetary Fund (IMF). With the largest official stocks in the world, the U.S. UU.
It has almost the same amount of gold as the next three countries combined. It also has the third highest allotment of gold as a percentage of its foreign exchange reserves. As far as we know, most of us,. The gold is kept in Fort Knox, Kentucky, and the rest at the Philadelphia Mint, the Denver Mint, the San Francisco Testing Office and the West Point Bullion Depot.
Which state loves gold the most? Well, the state of Texas went so far as to create its own Texas bullion deposit to safeguard gold from investors. Australia is at the forefront as the country with the largest gold mine reserves in the world, with 10,000 tons. Russia ranks second on the USGS list of countries with the largest gold mine reserves in the world, with 5,300 tons, almost half of Australia. It has 24 million ounces of proven and probable reserves, with up to 39 million ounces of measured, indicated and inferred mineral resources.
South Africa is home to Gold Field's South Deep gold mine, which is the largest facility of its kind in the world with 32.8 million ounces of mineral reserves. The United States is the country with the fourth largest gold mining reserves in the world, with 3,000 tons. Newmont's Carlin Trend mine in Nevada is the sixth largest gold plant in the world, while Barrick's Cortez mine, which is also located in Nevada, ranks tenth on the list. Indonesia ranks fifth in the list of countries with the largest gold mine reserves in the world with 2,600 tons.
It is possible that both China and Russia have increased their gold reserves over several years to de-dollarize. These range from jewelry and coins to infrared shielding, gold plating, tooth restoration and computers and other electrical devices. Ironically, the nation that ended its gold standard in 1934 currently ranks first among countries with the largest gold reserves. Nowadays, there is no doubt that the Bundesbank in Germany, the Banca d'Italia in Italy and the Banque de France in France are still firmly committed to gold as a reliable repository of wealth.
After Japan, the next major gold holders are India, the Netherlands, Turkey, Taiwan and Kazakhstan. This means that a country that exports gold and has a surplus of gold reserves can often see an increase in the strength of its currency. Gold reserves are a useful tool for governments, which can purchase large quantities of gold to counter rising inflation. Countries with the largest gold reserves are not necessarily stronger or weaker than other nations.
Gold has been used as a currency since ancient times, which eventually led to the establishment of the gold standard. Although China ranks sixth in terms of the largest amount of gold it has, the yellow metal represents only a small percentage of its total reserves, just 3.3 percent. .