What Country Has The Largest Gold Reserves

What Country Has The Largest Gold Reserves – Can you guess the world’s richest country – the United States – as the top holder of the world’s most famous metal?

Maybe several European countries appear at the top? Many European countries are close to America on a per capita basis.

What Country Has The Largest Gold Reserves

What Country Has The Largest Gold Reserves

Maybe China, the country that will soon become the world’s largest economy? Take your guess – because the answer is given below.

The Central Bank Of Almost Every Country In The World Owns Gold — Except Canada. Here’s Why That’s A Mistake

Perhaps unsurprisingly, the country with the largest central bank holding of gold is the United States, at 8,133 tonnes. Germany’s central bank is second only to the United States with 3,370 tonnes. In the third, interesting, not the country. It is the International Monetary Fund (IMF) that has 2,814 tonnes of gold. In fourth place are Italy with 2,452 tons, France with 2,436 tons, Russia with 1,944 tons, China with 1,843 tons, Switzerland with 1,040 tons, Japan with 765 tons and the Netherlands with 612 tons. Top 10 of these entities.

The bottom 10 of the top 20 central bank gold holdings include India 562 tonnes, European Central Bank (ECB) 505 tonnes, Taiwan 424 tonnes, Portugal 383 tonnes, Saudi Arabia 323 tonnes, Kazakhstan 322 tonnes. Great Britain 310 tons, Lebanon 287 tons, Spain 282 tons and Austria 280 tons.

Perhaps the most surprising finding is that Great Britain is not in the top 10. The Bank of England is more diversified than other central banks.

Other data views are described below. Each box represents the golden fraction of an entity relative to all other entities.

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It is quite surprising that the top six central banks (and the IMF seven) make up about three quarters of all gold holdings.

Countries certainly have their own views on the benefits of gold and this is clearly shown in the chart below.

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What Country Has The Largest Gold Reserves

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Ranked: The Countries With The 10 Largest Gold Reserves

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“Heard of the golden rule? He who has the gold, makes the rules.” It’s an old joke, of course, but the country with the largest gold reserves followed its rules at a time when some countries were still on the gold standard.

Governments and central banks run on gold for many reasons. Maybe they don’t really trust the currency, or maybe they’re in economic turmoil. After all, gold has a decent history of holding its value in times of high inflation.

Which Country Has The Largest Gold Reserves?

Gold does not carry counterparty risk (the possibility that the other party to a transaction will not meet its obligations) like currencies and bonds. Additionally, gold can help diversify our country’s resource reserves.

A significant rise in gold prices in the coming months and years could tip the balance of economic power. Therefore, there is nothing to be alarmed about about the countries that hoard gold, but the numbers – and which countries are on the list of gold holders – may surprise you.

Ironically, the nation that ended its gold standard in 1934 now ranks first among the countries with the largest gold reserves. According to the World Gold Council, as of July 28, 2022, US central banks held 8,133 tons (sometimes known as metric tons) of gold.

What Country Has The Largest Gold Reserves

. Gold was held at several locations, including Fort Knox, Kentucky; West Point, New York; and Denver, Colorado

Guess Which Country Has The Largest Gold Reserves: Does India Make The Top 10?

Central banks often hold a country’s gold. In the United States, however, gold is held by the Treasury, not the Federal Reserve, for the mint.

Europe is short on some commodities, including oil and natural gas, as the Russian-Ukrainian crisis and resulting sanctions have dramatically reduced flows. And of course the nation is not short of supplying one particular commodity, and of course, that is gold.

Germany ranks second among countries with 3,355 tonnes of gold, while Italy and France are about the same with 2,452 and 2,437 tonnes respectively.

Even before the crisis and the Russia-Ukraine sanctions, the EU. He is keen to increase his gold supply. In 2021, two decades after gold was deposited in the EU, the European Central Bank announced that gold is “an important component of global financial reserves, as it continues to facilitate asset diversification”.

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Today, Germany’s Bundesbank, Italy’s Bank of Italy and France’s Banque de France are no doubt strongly bullish on gold as a trusted store of wealth.

The Russian Federation’s 2,299 tonnes of gold puts the country among the top five gold holders in the world. This is an interesting case, as Russia had reported its gold reserves for years before the invasion of Ukraine.

Russian gold, stored in vaults located in Moscow and other parts of the country, was worth about $140 billion in the early stages of the invasion of Ukraine. It can be assumed that Russia built up its gold supply years ago, in anticipation of an invasion of Ukraine. The idea, apparently, is to insulate Russia from the effects of sanctions that reduce the ruble’s value or usability.

What Country Has The Largest Gold Reserves

So there is the question of how Russia could sell its gold if it wanted to. It is estimated that even if some countries impose sanctions on Russian gold, the country will still be able to sell its gold to China, India and/or Kazakhstan.

Which World Countries Have The Most Gold?

China may not be in the top five on this list, but the country’s 1,948 tonnes of gold is nothing to shy away from. It is one of only two East Asian countries in the list of countries with the largest gold reserves. However, China’s exact place on this list is difficult to prove, as the country does not necessarily have a perfect record when it comes to transparency in the release of economic statistics.

However, it is not unreasonable to think that China is actually hiding a lot of gold. One commentator has even suggested that China actually has more gold than the US – an estimate of around 20,000 tonnes – an interesting possibility to consider, but difficult to prove.

Why would China choose to stockpile so much gold? One of the reasons may be the country’s apparent desire to “de-dollarize,” or reduce reliance on the world’s most widely used reserve currency, the U.S. dollar. Both China and Russia could have spent years hoarding gold to depreciate the dollar.

Also, there are fears that China may attack Taiwan, just as Russia invaded Ukraine. If so, then China seems to have had a specific and controversial purpose in its gold hoarding over the years.

The Countries With The Largest Gold Reserves Mapped

Switzerland’s love of gold is no secret, and the Swiss National Bank’s 1,040-tonne reserves cement the country’s place as a top ten gold holder. Switzerland is believed to have the largest per capita gold reserves in the world.

Russia is a major producer of bullion, while Switzerland is the world’s largest gold refining and transit center. Customs data show that in May, Switzerland received 3.1 tons of gold from Russia, worth about $200 million.

According to the Federal Office for Customs and Border Security, “the importation of gold from Russia to Switzerland is not prohibited by the Ordinance on measures related to the situation in Ukraine.” On the other hand, “gold exports to Russia are prohibited by the existing sanctions regime.” Therefore, it may be debated whether Swiss purchases of gold from Russia violate the terms and/or spirit of European sanctions against Russia.

What Country Has The Largest Gold Reserves

Finally, we can complete the list of global gold hoarders in the Bank of Japan, which holds 846 tons of gold. After Japan, India, Netherlands, Turkey, Taiwan and Kazakhstan are the next largest holders of gold.

Europe Has Been Preparing A Global Gold Standard Since The 1970s

2022 is an interesting year for gold in Japan, to say the least. Metal prices in Japan hit an all-time high in February, likely due to concerns over geopolitical risks and a weak Japanese yen.

Then, in June, Japan joined the United States, Great Britain, and Canada in banning Russian gold exports. British Prime Minister Boris Johnson said the joint action would “hit the Russian oligarchs directly and strike at the heart of (President Vladimir) Putin’s war machine.”

Owning gold can be lucrative. Gold is widely regarded as a hedge against inflation and volatility

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