A lot of Central Banks through out the World have held Gold Reserves as a measure of valuing currency. Over the last 10 years Banks have increased their buying of this precious metal. We have compiled a list of the top 10 countries in the world with the largest Gold Reserves.
No. 10 India
India currently holds 560.3 Tonnes of Gold Bullion.
It is not surprising as it has a population of 1.25 Billion people and is the second largest consumer of Gold in the world (But could soon be the biggest). Indian nationals also own the most amount of personal Gold with the average person owning almost 1Oz of the precious metal. It is very popular to give as a gift for weddings and other festivals that take place there. The majority of the Gold owned is in the form of jewellery.
No. 9 Netherlands
The Netherlands hold 612.5 Tonnes of Gold Bullion.
If you thought that the Dutch people only like Tulips and other Flowers, think again, they also have a passion for Gold. They like their Gold so much that the Central Bank recently announced it was moving all of its Gold Reserves to a shiny new Vault just out side the City. They have also started taking back a lot of Gold reserves that they held in foreign Vaults.
No. 8 Japan
Japan holds 765.2 Tonnes of Gold Bullion.
Japan has seen a very big increase in demand for Gold Bullion. As the worlds 3rd largest economy it has been an aggressive buyer of Gold. Japan lowered interest rates in 2016 which led to buying more Gold not only in Japan but from around the world. The Yen is also one of the worlds strongest currencies. Japan also has sold Gold in recent years after the Fukushima Nuclear Disaster.
No. 7 Switzerland
Switzerland holds 1040 Tonnes of Gold Bullion.
Switzerland has always been seen as safe haven for the storage of Gold for investors and institutions from around the world for many years. As neutral country it became a major Gold trading hub following world war 2. Switzerland holds so much Gold that it has the highest amount of Gold per person in the world based on their population. Switzerland is still a major Gold Trading destination and also boasts some of the worlds most recognized refineries today.
No. 6 China
China holds 1826 Tonnes of Gold Bullion.
China has become a major player in Gold Reserves. Although is a vast reserve it only accounts for a small proportion of its over all reserves. China now issues annual reports on how much Gold it has acquired to the world. Over the last 10 years China has also become one of the worlds largest producers of Gold and as a population it has a very high demand for this precious metal.
No. 5 Russia
Russia holds 1909 Tonnes of Gold Bullion.
The biggest buyer of Gold Bullion for national reserves over the last number of years has been the Russian Central Bank which has seen over take Chine for 5 th spot. It has been trying to move away from the influence of the US Dollar in recent times. In 2017 in bought a STAGGERING 224 Tonnes of Gold Bullion. However interestingly it is said that Russia sold a lot of Gold Bullion to the US Treasury in recent years.
No. 4 France
France holds 2436 Tonnes of Gold Bullion.
The French love their Gold Bullion. France is keen to keep its Gold and is one of the few nations that has kept most of its reserves over the last number of years. There is talks to stop the selling of Gold and certain Government parties want all Gold Bullion held in foreign states returned to France.
No. 3 Italy
Italy holds 2451 Tonnes of Gold Bullion.
There is very little difference between Italy and France in terms of quantity of Gold Bullion held in reserves. Italy did have some economic difficulties recently but was allowed to maintain its Gold reserves with the support of the ECB. The Italians stated that it was a good safety net in times of trouble (against the Dollar).
No. 2 Germany
Germany holds 3363 Tonnes of Gold Bullion.
By far, Germany holds the largest amount of Gold Bullion in Europe. It has been building up its reserves over the last year by taking back Gold Bullion it stored in both the US and France. Germany has seen the rate of Gold investing within its country rise over the last number of years.
No. 1 USA
USA holds 8133 Tonnes of Gold Bullion.
Well no surprise here, but the US is the worlds largest holder of Gold Bullion. It has as much Gold as the last 3 countries combined. The majority of its Gold is stored in the Famous Fort Knox >> That has actually never been robbed. Texas is the place where they also store Gold.
Now if everyone can start buying Gold from www.goldbullionireland.ie we can try get Ireland on to the list for next year.