Italy, 2, 451, 84;. France, 2, 436, 45;. Russia, 2, 298, 56;. Relevance in times of war · Officially reported stocks · See also.
The United States has the largest gold reserve in the world by a significant margin. The government has almost as many reserves as the next three largest countries that hold gold combined (Germany, Italy and France). Russia completes the top five. The International Monetary Fund (IMF) is reported to have more gold reserves than Italy, but less than Germany.
Gold has served as a medium of exchange, to varying degrees, for thousands of years. For much of the 17th and 20th centuries, paper money issued by national governments was denominated in gold and acted as a legal claim to physical gold. International trade was conducted using gold. For this reason, countries needed to maintain a gold reserve for economic and political reasons.
The top 10 central banks with the largest gold reserves have remained largely unchanged over the past few years. The United States ranks first with more than 8,000 tons of gold in its vaults, almost as much as the next three countries combined, and represents 79% of total reserves. The only countries where gold represents a higher percentage of reserves are Portugal, with 80.1%, and Venezuela, with 82.4%. Not surprisingly, the Bank of India has one of the largest gold reserves in the world.
The South Asian country, home to 1.25 billion people, is the second largest consumer of precious metals and one of the most reliable drivers of global demand. Historically, India's festival and wedding season, which runs from October to December, has been a great help for Love Trade, of gold. In seventh place is Switzerland, which actually has the largest per capita gold reserves in the world. During World War II, the neutral country became the center of the gold trade in Europe, making transactions with both the Allies and the Axis powers.
Nowadays, much of its gold trade is done with Hong Kong and China. France's central bank has sold little of its gold in recent years. The current reserves consist of 100 tons of gold coins and the rest of ingots weighing about 12.5 kilograms each. The vaults of the Bank of France in Paris are one of four deposits designated by the International Monetary Fund (IMF).
All countries in the world want to compensate their economy. Accumulating gold is one of the best ways. As the price of gold increases, so do its currency and economy. The top 10 countries that accumulated the most significant amount of this shiny metal are listed below.
The United States has held its first position in gold reserves for several years. Gold represents 79% of the United States' foreign reserve (the only countries above this figure are Venezuela with 82.4% and Portugal with 80.1%). It has almost the stock of the following three major countries combined. For the past seven years, Russia has become the second largest buyer of gold in the world (Turkey is in first place, buying 134 tons of gold for the second year in a row).
On the other hand, if any country lacks gold in its reserves and is a massive importer of gold, it has a weaker economy every time the price of gold rises. Offered to house and protect other countries' gold in exchange for dollars, 90 to 95% of the world's gold reserves were reported to be in U.S. vaults. Although China is on the list of the 10 largest gold reserves, only 3.3% of its foreign exchange reserves represent gold.
Any country that exports gold or has a huge gold reserve will inevitably experience an increase in its currency as the price of gold rises. A gold reserve is gold held by a national central bank, primarily intended to ensure the fulfillment of promises to pay depositors and bondholders (for example, a gold reserve is the gold held by a country to boost a country's economy, especially during a period of hyperinflation). .