It is important for countries to have a large amount of gold in their pockets. This is because gold remains valuable, allowing a country to ensure that it can pay off high debts should the need arise. Even when inflation is high, countries often choose to buy more gold, as gold has proven to be a reliable store of value for many hundreds of years. Want to know which countries have the largest gold reserves in the world? You can read about it in this top 10.
The Dutch Bank holds a reserve of 612.5 tons of gold. This gold has a value of more than 30 billion and is therefore an incredibly important reserve for our country. Part of this gold is simply stored in the Netherlands, but for security reasons it is divided over several locations. Some parts are also stored in the heavily guarded vaults in New York, Canada and England.
The Bank of India has one of the largest gold deposits in the world. This is not surprising when you consider that the country holds 687.8 tons of gold. This is also only going to get more, as India has been buying more gold recently. Most of the gold is kept in vaults near the city of Nagpur, but some can also be found in England.
Japan is also a rich country with billions of dollars in gold in its pocket. This is not surprising since it is the third largest economy in the world. So the country needs a large reserve to keep its economy stable. Japan's gold holdings have declined slightly in recent times, but not enough to bump the country out of this top 10 list.
Switzerland has it right with a gold reserve of 1,040 tons. This is a hefty amount of gold for a small country, especially when you consider that it has a relatively small population. Thanks to this large gold reserve, Switzerland even has the most gold per capita in the world. This is not surprising, because during World War II Switzerland became the central point for gold trading. Gold was traded here with both fighting sides.
China was a bit more mysterious about its gold reserves for a long time, but now gives monthly updates on its reserves. It is the second largest economy in the world, so you would expect China to own a lot of gold as well. 1,948.3 tons of gold is certainly not little, but it is when you compare it to the value of the Chinese economy. It accounts for only 3.4% of the country's complete holdings.
Over the past seven years, Russia has been trying hard to boost its gold reserves. Indeed, for seven years the country was the largest gold buyer in the world. There is an important reason for this, as Russia wants to become less and less dependent on the US dollar. The country is trading more and more in other currencies and is now also buying a lot of gold to make its reserves more diverse.
France has sold little to no gold in recent years. In fact, the country is now considering retrieving all the gold stored in vaults in other countries. In this way, the country will have immediate access to its own gold reserves. In any case, with a reserve of 2,436 tons of gold, France has more than enough to draw on.
Italy has long been one of the richest countries in terms of gold reserves. As a result, the country has for many years ensured that the amount of gold remains at a good level. A large part of the 2,451.8 tons of gold is kept at the National Bank of Italy. This bank has one of the largest gold stores in the world.
The vast majority of Germany's 3,362.4 tons of gold is in the vaults of the Deutsche Bundesbank. Other portions can be found in New York and London. In recent years, Germany has also done its best to reduce some of its foreign gold reserves. For example, in 2017 it succeeded in transferring more than 600 tons of gold bars from France to Germany.
10. Netherlands - 612.5 tons of gold
The Dutch Bank holds a reserve of 612.5 tons of gold. This gold has a value of more than 30 billion and is therefore an incredibly important reserve for our country. Part of this gold is simply stored in the Netherlands, but for security reasons it is divided over several locations. Some parts are also stored in the heavily guarded vaults in New York, Canada and England.
9. India - 687.8 tons of gold
The Bank of India has one of the largest gold deposits in the world. This is not surprising when you consider that the country holds 687.8 tons of gold. This is also only going to get more, as India has been buying more gold recently. Most of the gold is kept in vaults near the city of Nagpur, but some can also be found in England.
8. Japan - 765.2 tons of gold
Japan is also a rich country with billions of dollars in gold in its pocket. This is not surprising since it is the third largest economy in the world. So the country needs a large reserve to keep its economy stable. Japan's gold holdings have declined slightly in recent times, but not enough to bump the country out of this top 10 list.
7. Switzerland - 1,040 tons of gold
Switzerland has it right with a gold reserve of 1,040 tons. This is a hefty amount of gold for a small country, especially when you consider that it has a relatively small population. Thanks to this large gold reserve, Switzerland even has the most gold per capita in the world. This is not surprising, because during World War II Switzerland became the central point for gold trading. Gold was traded here with both fighting sides.
6. China - 1,948.3 tons of gold
China was a bit more mysterious about its gold reserves for a long time, but now gives monthly updates on its reserves. It is the second largest economy in the world, so you would expect China to own a lot of gold as well. 1,948.3 tons of gold is certainly not little, but it is when you compare it to the value of the Chinese economy. It accounts for only 3.4% of the country's complete holdings.
5. Russia - 2,299.9 tons of gold
Over the past seven years, Russia has been trying hard to boost its gold reserves. Indeed, for seven years the country was the largest gold buyer in the world. There is an important reason for this, as Russia wants to become less and less dependent on the US dollar. The country is trading more and more in other currencies and is now also buying a lot of gold to make its reserves more diverse.
4. France - 2,436 tons of gold
France has sold little to no gold in recent years. In fact, the country is now considering retrieving all the gold stored in vaults in other countries. In this way, the country will have immediate access to its own gold reserves. In any case, with a reserve of 2,436 tons of gold, France has more than enough to draw on.
3. Italy - 2,451.8 tons of gold
Italy has long been one of the richest countries in terms of gold reserves. As a result, the country has for many years ensured that the amount of gold remains at a good level. A large part of the 2,451.8 tons of gold is kept at the National Bank of Italy. This bank has one of the largest gold stores in the world.
2. Germany - 3,362.4 tons of gold
The vast majority of Germany's 3,362.4 tons of gold is in the vaults of the Deutsche Bundesbank. Other portions can be found in New York and London. In recent years, Germany has also done its best to reduce some of its foreign gold reserves. For example, in 2017 it succeeded in transferring more than 600 tons of gold bars from France to Germany.
1. United States - 8,133.5 tons of gold
Cliff/wikipedia/CC BY-SA 4.0
For years, the United States has been in first place when it comes to gold reserves. In fact, the country has more than twice as much gold as the number two on this list. Most of the gold is kept at Fort Knox, a highly secure military base in the state of Kentucky. Not the old Fort of course, but the "United States Bullion Depository".
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Economy
Very Informational.
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