The 10 largest gold reserves in the world

Gold reserves are the state gold stocks held by the respective countries' central banks as deposits of value. In contrast to this definition, the International Monetary Fund (IMF) is also included in the gold reserves.

Largest Gold Reserves In The World.
Largest Gold Reserves In The World.

Gold has been used worldwide for thousands of years for religious objects, jewelry, and currency-independent means of payment.

Gold is also valued as an almost completely crisis-proof form of investment. It is considered to be value and inflation-proof.

Nowadays, gold functions as a national reserve and as a risk compensation for fluctuations in the US dollar, since gold can be converted into US dollars as a means of payment at any time.

The World Gold Council estimates that the total gold mined in 2017 was around 187,200 tons. At a price of US $ 1,250 per troy ounce, one ton of gold is worth around US 40.2$ million.

We present the ten largest gold reserves in the world.

India

India is currently the country with the second largest population in the world. Gold jewelry is trendy here, but gold demand has decreased somewhat connected with the rise in prices in recent years. Nevertheless, India relies on gold reserves and holds around 557.8 tons, which corresponds to about 8.4% of India's currency reserves.

Netherlands

The gold reserves in our neighboring country amount to 612.5 tons. In 1999 it was decided to part with 300 tons of gold within five years. In the end, however, only 235 tons were sold. Today, the Netherlands holds 612.5 tons of gold reserves, which is 54% of gold's currency reserves.

Japan

The Asian industrial nation benefits from exports and is one of the economically strongest countries in the world. Japan holds around 765.2 tons of gold in reserve, but these only make up 2.6% of its currency reserves. What is impressive is the sale of gold for $ 2 trillion in 2011 to prop up the economy.

Switzerland

The Swiss franc is known as an extremely stable currency. Switzerland owns 1,040 tons of gold, but these only make up 8.3% of the currency reserves. The Swiss National Bank (SNB for short) has held a constant amount of 1,040 tons of gold since 2008.

Russia

Russia is not only the world's largest oil producer but also the world's largest gold buyer. The largest country in the world in terms of the area has increasingly bought gold in recent years. With the gold purchases, Russia wants to arm itself against the decline of the ruble and other paper currencies. Russia currently holds gold reserves of 1,828.6 tons, which means that more than 8% of the currency reserves are invested in gold.

China

Especially since the turn of the millennium, China has developed from an emerging country to a rising industrial nation. In 2013, gold imports in China exceeded the 1,000-ton limit for the first time. The Chinese state stores 1,842.6 tons of gold, which means that the gold reserves only make up a small proportion of the total currency reserves.

France

The German neighbor France is increasingly relying on the precious yellow metal, which most recently totaled around 2,435.9 tons. Thus, gold reserves make up about 66% of France's currency reserves. Under President Charles de Gaulle, France significantly increased its gold share in currency reserves between 1965 and 1966. It insisted on shipping gold bars from the USA to France.

Italy

The southern European country, in which over 60.7 million people live, belongs to the top three. Italy recently accumulated around 2,451.8 tons of gold, which means that approximately 67% of the currency reserves are invested in gold.

Germany

With 3,373.7 tons of gold, Germany has the largest gold reserve in Europe and even the second largest in the world. Germany's gold reserves correspond to around 70% of the currency reserves. Unlike France, most of the gold is stored abroad, especially in the USA. The Bundesbank, therefore, announced that around 700 tons of gold would be transported to Germany by 2020.

United States

Since 1952, the US has been at the forefront of the countries with the largest gold reserves. About 8,133.5 tons of gold is currently hoarded here, so the precious metal makes up about 72% of the total American currency reserves.