It is important for countries to have a large amount of gold in hand. Gold remains valuable, allowing a country to ensure it can pay off high debts when necessary. Also, during high inflation, 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 find out in this top 10 list.
10. Netherlands – 612.5 tons of gold
The Dutch Bank has a reserve of 612.5 tons of gold in hand. This gold has a value of more than 30 billion and is thus an incredibly important reserve for our country. A part of this gold is simply stored in the Netherlands, but for safety reasons, it is distributed across different locations. Some parts are also in the highly 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 reserves in the world. This is not surprising when you consider that the country has 687.8 tons of gold in its possession. This is only increasing, as India has recently bought more gold. The majority of the gold is stored in vaults near the city of Nagpur, but a portion can also be found in England.
8. Japan – 765.2 tons of gold
Japan, too, is a wealthy country with billions of euros worth of gold in hand. This is not surprising, as it is the third-largest economy in the world. The country thus needs a large reserve to keep its economy stable. The amount of gold in Japan has decreased slightly in recent times, but not enough to knock the country out of this top 10 list.
7. Switzerland – 1,040 tons of gold
Switzerland has done well for itself with a gold reserve of 1,040 tons. This is a significant amount of gold for a small country, especially when you consider that it has a relatively small number of inhabitants. Thanks to this large gold reserve, Switzerland even has the most gold per capita in the world. This is not surprising, as Switzerland became the central point for gold trade during World War II. Here, gold was traded with both fighting parties.
6. China – 1,948.3 tons of gold
China was for a long time more mysterious about its gold reserves, but now provides monthly updates on the reserves. It is the world’s second-largest economy, so you would expect China to also have a lot of gold. 1,948.3 tons of gold is certainly not little, but it is when compared to the value of the Chinese economy. It accounts for only 3.4% of the country’s total assets.
5. Russia – 2,299.9 tons of gold
Over the past seven years, Russia has made significant efforts to boost its gold reserves. The country was the world’s largest gold buyer for seven years. There is an important reason for this, as Russia wants to become less dependent on the US dollar. The country is increasingly trading 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
In recent years, France has sold little to no gold. The country is now even considering bringing back all the gold stored in vaults in other countries. This would give the country direct access to its own gold reserves. With a reserve of 2,436 tons of gold, France certainly has more than enough to rely on.
3. Italy – 2,451.8 tons of gold
Italy has long been one of the wealthiest countries in terms of gold reserves. The country has also ensured that the amount of gold remains well balanced for years. A large portion of the 2,451.8 tons of gold is stored at the National Bank of Italy. This bank has one of the largest gold storages in the world.
2. Germany – 3,362.4 tons of gold
The vast majority of Germany’s 3,362.4 tons of gold is stored in the vaults of the Deutsche Bundesbank. Other parts can be found in New York and London. In recent years, Germany has also made efforts to bring back part of its foreign gold reserves. In 2017, it managed to transfer more than 600 tons of gold bars from France to Germany.
1. United States – 8,133.5 tons of gold
For years, the United States has been in the first place when it comes to gold reserves. The country has more than twice as much gold as the number two on this list. The majority of the gold is stored at Fort Knox, a highly secured military base in the state of Kentucky. Not the old Fort, of course, but the “United States Bullion Depository”.
