The United States has the largest gold reserve in the world by a considerable margin, with more than 8,100 tons. 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. No contemporary government requires that all its money be backed by gold. However, governments still hold enormous quantities of ingots as a guarantee against hyperinflation or another economic calamity. In fact, every year, governments increase their gold reserves, which are measured in metric tons, in hundreds of tons.
For companies, gold represents a basic asset used in medicine, jewelry and electronics. For many investors, both institutional and retail, gold is a hedge against inflation or recession. It continues to protect gold that belongs to other countries. The Federal Reserve Bank of New York is the custodian of gold owned by foreign governments, foreign central banks and official international organizations.
Inside a vault at the Federal Reserve Bank of New York. It is known to contain the largest amount of gold in the world. Gold reserves by country. S%26P Global.
The Central Bank of Russia is trying to boost gold exports by paying below the market price. Board of Governors of the Federal Reserve System. Does the Federal Reserve own or hold gold? Sweden is not an obvious choice as a major player in the gold market, but this Scandinavian country actually has 125.72 tons of gold ingots. However, he doesn't keep all his actions in his homeland.
In addition to Sweden's central bank, the Riksbank, the country's gold is also reported to be found in the Bank of England, the Bank of Canada, the Federal Reserve Bank of the United States and the National Bank of Switzerland.