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After going through the school of Hard Knocks, Im ready to help you by sharing the best retirement choices and how they differ from all the same-old, same-old options that financial advisors sell. Top 10 Countries With Most Gold Reserves In World #youtubeshorts #shortsfeed #viralvideo #whatsappstatus #youtubeshorts #shorts #shortvideo#shortsfeed More than 35,000 metric tons of gold, or roughly 20% of all gold ever mined, is presently stored in the worlds central banks. Bank of Japan decided tointroduceQuantitative and Qualitative Monetary Easing with a Negative Interest Rate in 2016. It has sold very little gold in recent years, and some have proposed stopping the practice altogether. Global Investors, Inc. is an innovative investment manager with vast experience in global markets and specialized sectors. The United States Mint produces US coins. About 674 tons of gold were returned to Germany in 2017 via repatriation from the Banque de France and the Federal Reserve Bank of New York. Meanwhile, Chinareducedits holdings of U.S. treasury securities from $1,130.9 billion in February 2019 to $1,092.3 billion in February 2020. The reserves have gradually reduced further setting at the current levels by Q4 2008. The list ends with Turkey, which has a gold reserve of approximately 583 tons. Purchasing was concentrated in the first half of the year, then turned nearly nonexistent in the third quarter and resumed in the last three months of the year. Top 10 Countries with the Most Gold Reserves Mr.Meet July 15, 2022. While many nations choose to diversify the reserve funds over a range of assets as per directions from the central bank, the economic instability and uncertainty of the last decade have led to a steady rise in gold purchases as well as an increase in the proportion of reserve funds that gold bullion makes up for each nation. For a considerable portion of the United States history, its currency was pegged to the value of gold, necessitating substantial U.S. gold reserves to sustain the gold standard. Cayman Financial Review is an online financial analysis newsletter. The Emerging Europe Fund invests more than 25% of its investments in companies principally engaged in the oil & gas or banking industries. Most of the worlds countries have pegged their currencies to this precious metal in the past. . Its central bank has been one of the most aggressive practitioners of quantitative easingin January 2016, it lowered interest rates below zerowhich has helped fuel demand for gold around the world. Are China Internet Stocks Set Up To Rally In The Second Quarter? It had overtaken by China for a period of four quarters back in 201415 (Q2, Q3, and Q4 2014 and Q1 2015). An entrepreneur, world traveler, and active investor that is passionate about navigating through the blockchain by investing in precious metals like gold and silver. For the second year in a row, Venezuela has been the largest seller of gold, with 25 tonnes sold last year to help pay off debt. 1. The majority of U.S. gold is held in Fort Knox in Kentucky. Japan, being the third-largest economy in the world, ranks eighth largest in terms of the countries with the largest gold reserves. The U.S also has the highest gold allocation as a percentage of its foreign reserves at approximately 76%. The risk of concentrating investments in this group of industries will make the fund more susceptible to risk in these industries than funds which do not concentrate their investments in an industry and may make the funds performance more volatile. Use Ask Statista Research Service, Gold production ranked by major countries 2022, Global production of gold mines 2010-2022, Rate of return of gold as an investment 2002-2022, To download this statistic in XLS format you need a Statista Account, To download this statistic in PNG format you need a Statista Account, To download this statistic in PDF format you need a Statista Account. A further 18% (or around 110 tons) is kept in London at the Bank of England, while another 20% is kept in Ottawa. This monetary expansion could be necessary to prevent economic collapse, but it would come at the expense of national currency devaluation. The Netherlands has 612.5 tons of gold as its official holdings, which is equivalent to a significant 70.5% of its foreign reserves. Here are the top 10 African countries with the largest gold holdings in 2021, according to Statista ADVERTISEMENT Algeria 174 metric tons South Africa - 125 metric tons Libya - 117 metric. The country's top gold mine was Canadian Malartic, co-owned by Yamana Gold and Agnico Eagle, which was responsible for producing over 16 tonnes last year. Additionally, reserves were amassed by governments to meet the costs of waging war and to acquire and hold treasure, because the policies of the time emphasized the importance of doing so. The European Central Bank (ECB) is supported by its president, Mario Draghi, who has affirmed that Italy has kept its reserve levels stable over time. As a result, it is now one of the countries with the highest gold reserves in 2018, even more so than China. Today, much of its gold trading is done with Hong Kong and China. Global Investors is the investment adviser. Many central banks turned from being net sellers to net buyers in 2010. Some of these opinions may not be appropriate to every investor. U.S. Percent of foreign reserves: 7.5%. According to the Reserve Bank of India, the countrys gold reserves rose from $1.008 billion to $37.020 billion in the final week of December 2020. More than one metric ton of gold was moved among the top 10 countries in 2020, demonstrating the metals vital role in global trade. Is Gold A Good Investment For Retirement? The hyperinflation that plagued the country from 1919 to 1923, under the Weimar Republic, is deeply embedded in the collective memory of the German people. China Banknote Printing and Minting Corporation is a state-owned corporation that mints all renminbi coins and prints all renminbi banknotes for the Peoples Republic of China. Furthermore, to cover operating deficits, the IMF sold gold to the US in 19561960, with the proceeds invested in US Government securities. The ten nations on the list include some of the worlds wealthiest and most industrialized countries. Chart. Gold, precious metals, and precious minerals funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. From what we know, the majority of U.S. gold is held at Fort Knox in Kentucky, with the remainder held at the Philadelphia Mint, Denver Mint, San Francisco Assay Office and West Point Bullion Depository. Language links are at the top of the page across from the title. Some link(s) above may be directed to a third-party website(s). In the summer of 2015, the Peoples Bank of China began sharing its gold purchasing activity on a monthly basis for the first time since 2009. The former Bank of Italy governor, when asked by a reporter in 2013 what role gold plays in a central banks portfolio, answered that the metal wasa reserve of safety,adding, it gives you a fairly good protection against fluctuations against the dollar.. Stock markets can be volatile and share prices can fluctuate in response to sector-related and other risks as described in the fund prospectus. Get the need-to-know information about our financial products, from investment objectives, strategies, and performance to fees and fund management. Gold reserve mainly refers to the gold that a countrys central bank owns and would use to back its currency and fulfill its obligations to pay noteholders, depositors, and trading partners. In fact, governments add hundreds of tons (of gold, which is measured in metric tons) to their stockpiles every year. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content. The only countries where gold represents a higher percent of reserves are Portugal at 80.1% and Venezuela at 82.4%. Percent of foreign reserves: 77.5 percent. Are you interested in testing our business solutions? In the US, for example, for the year 2011, secondary sources (new and old scrap) exceeded primary production.[4]. Conversely, if a country has little gold in reserve and must import a lot of it, its economy will suffer if the price of gold rises. The corporation also sells commemorative Chinese coins to investors. Purchases last year were a whopping 60% lower than the record 668 tonnes added in 2019. One of the worlds earliest mints, the Monnaie de Paris, still operates today. Australia and South Africa are just two of the five countries with the largest gold mine reserves in the world. Gold IRA Rollover Guide How to Convert IRA or 401(k) to Gold. This function becomes all the more important when geopolitical conditions or the international economic situation could put the financial markets at additional risk, such as of a foreign exchange or financial crisis, reads anoteby the countrys central bank. During World War II, the neutral country became the center of the gold trade in Europe, making transactions with both the Allies and Axis powers. However, Chinas official gold reserves stand at 1,948.3 tons, constituting 3.2% of its foreign reserves. During the last year, approximately 34 tons of gold was added by the countrys central bank. It also has the highest gold allocation as a percentage of its foreign reserves at over 75 percent. A reporthighlights, Gold returns in periods of low rates are historically twice as high as their long-run average. Japan is currently the largest foreign holder of U.S. treasury securities; its allocation stood at $1,268.3 billion in February 2020. The United States has the largest gold reserves in the world at 8,133 tons, more than Germany and Italy combined. Although gold demand fell in 2017 after hitting an all-time high in 2016, this European country has seen gold investing steadily rise since the global financial crisis. The Swiss Confederation, through the Swiss Mint, has been releasing commemorative coins to highlight important historical and cultural events since 1936. Diverse factors have contributed to this: In order to restock its currency reserves, the IMF traded gold many times between 1957 and 1971. 6) China - 1,948.32 tonnes China used to have a policy of mining gold, selling it, and reinvesting into its economy, but as the economy has caught up with major Western nations now, the country has begun building up the percentage of its reserves held in gold. Here are our policies and procedures, including guidelines, charters, and codes of business. Your questions and feedback are important to us we look forward to hearing from you. India has stockpiled a total of 743.83 metric tons of gold. Direct trades at market pricing with central banks and other official holders started in October 2009. The U.S. foreign exchange reserves are a basket of foreign exchange, SDRs, U.S. reserve position in the IMF, and gold. paper money), or trading peers, during the eras of the gold standard, or to support the value of the national currency. Global Investors, Inc. website may be offered only to persons in the United States. As a Premium user you get access to background information and details about the release of this statistic. Top Countries with the Largest Gold Reserves Worldwide, The United States, with 8,133.5 Tons of Gold. You are encouraged to talk to your financial advisor before making any investment decision. Gold Reserves World Europe America Asia Africa Australia G20 This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Gold Reserves. The IMF has occasionally sold gold or returned it to its member countries. Frances central bank has sold little of its gold over the past several years, and there are calls to halt it altogether. The G6 nations combined are the highest single-organization holder of gold in the world, while the International Monetary Fund is ranked number three with 2,814 tonnes. Figures are as of April 2021 and do not include the International Monetary Fund (IMF) as a country, or else it would hold the number three spot with 2,814 tonnes. "World mine reserves of gold as of 2022, by country (in metric tons)." Pension Reform Showdown: Will the U.S. Bank Failures, The Fed, And A Financial Crisis Rerun? As we enter the fourth quarter, its time to think about the bottom line for 2022, but also its good to know about what will the tax brackets be in 2023. 6) China - 1,948.32 tonnes Home - Blog - Top 10 Countries with Largest Gold Reserves. The massive 8,133.5 tons of U.S. official gold holdings are equivalent to the next three countries combined. Tonnes: 657.7. Due to obvious reasons, the International Monetary Fund (IMF) cannot be listed among the countries with the largest gold reserves because it is not a nation. In seventh place is Switzerland, which actually has the worlds largest reserves of gold per capita. In June 1999, the Governing Board of the SNBdecidedthat half of its then gold reserves of 2,590 tons were no longer required for monetary purposes. Although China comes in sixth for most gold held, the yellow metal accounts for only a small percentage of its overall reserves a mere 3.3 percent. First announced in 2013, the move was expected to take until 2020 to complete. Read our Investment teams weekly analysis here. Gold has always been an important part of foreign reserves of nations across the globe. The tax free funds may be exposed to risks related to a concentration of investments in a particular state or geographic area. The World Gold Council estimates that all the gold ever mined, and that is accounted for . Here at U.S. Italy is third on the list of nations with the largest gold reserves, with approximately 2,451.8 tons of gold. Overall, the majority of the countrys gold was returned in 2014. Gold reserves by country data compiled from IMF IFS statistics. The neutral country acted as a hub for European gold commerce during WWII, conducting business with Allied and Axis governments. Quickening the process of resolving a trade deficit, despite the fact that this was frequently disregarded. Moreover, its per-person gold holdings and gold investors are the biggest in the world. During the time of the Gold Standard system, virtually all nations pegged their currencies to a predetermined amount of gold or pegged their currency to the currency of another nation that did so. For current information regarding any of the funds mentioned in such materials, please visit the fund performance page. The Bank of Japan spreads its gold reserves among its many islands. 2018 could be another strong year for central bank gold demand. Banque de France purchases gold from around the world and stores it in a secure vault located 27 meters below the streets of Paris because the country has no domestic gold mines. to incorporate the statistic into your presentation at any time. After WWII, the Bretton Woods agreement tied the dollar to gold. Russia, one of the Gold-rich nations on our list, purchased 224 tons of gold to diversify away from the US currency. China. Show publisher information [1][2], Until 2006, South Africa was the world's largest gold producer. There was a period when international central banks sold more gold than they bought, leading to an imbalance in the money supply. Percent of foreign reserves: 64.5 percent. The purpose of the gold reserves is to boost confidence in the stability of Italy's financial system and of the single currency. The Gold and Precious Metals Fund is the first no-load gold fund in the U.S. We have a history as pioneers in portfolio management in this specialized sector. Gold makes up a portion of most forex reserves, with larger percentages for some countries than others. The Deutsche Bundesbank currently holds around 3,364.2 tons of gold. Are One Gram Gold Bars a Good Investment? The United States holds the number one spot with over 8,000 tonnes of gold in its vaults nearly as much as the next three countries combined. The Global Resources Fund takes a multi-faceted approach to the natural resources sector by investing in energy and basic materials. They also make limited-edition coins that are popular with collectors. However, governments continue to keep large quantities of bullion or precious metals as insurance against a major economic catastrophe. The Near-Term Tax Free Fund invests in municipal bonds with relatively short maturity. However, with 2,814 tons of gold stored away, the International Monetary Fund could have secured a third place on the list. Well, the state of Texas went so far as to create its very own Texas Bullion Depository to safeguard investors gold. In 2017 Germany completed a four-year repatriation operation to move a total of 674 tonnes of gold from the Banque de France and the Federal Reserve Bank of New York back to its own vaults. The Reserve Bank of India holds the vast majority of Indias gold reserves. Even though China has the worlds sixth-largest gold reserves, the countrys overall assets are only 3.4% gold. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Marine Le Pen, leader of Frances far-right National Front that exports gold, wants to end it and bring home the total amount now stored abroad. According to available statistics, the countrys gold reserves are projected to be 2298.53 tons. Top Ten Countries With the Highest Gold Reserves. Where is the worlds largest known stockpile of gold? Whats happening with gold this week? The plan was to invest the proceeds in other currencies, bonds, and foreign reserves, with the interest earned going toward Frances debt. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. The remaining pieces are stashed in warehouses in St. Petersburg and Yekaterinburg. Japans gold reserves were estimated at 42.878 USD billion in February 2021. Indias festival and wedding season, which runs from October to December, has historically been ahuge boon to golds Love Trade. Create your Watchlist to save your favorite quotes on Nasdaq.com. Switzerland holds over 1040 tons of gold in its reserve. The country holds the majority of its gold reserves at the Swiss National Bank in Bern (70%), but for safe keeping it also has 20% with the Bank of England and 10% with the Bank of Canada. In, US Geological Survey. Below are the top 10 countries with the largest gold holdings, beginning with India. Gold coins, along with a variety of otherprecious metals coins, and notes, were commonly used as domestic currency in many countries. In seventh place is Switzerland, which actually has the worlds largest reserves of gold per capita. The Mint creates various works of art, including collectible coins and medals, miniature and life-size sculptures, enamels, and art casts. "World Mine Reserves of Gold as of 2022, by Country (in Metric Tons). 2. Gold reserves are a helpful tool for governments, which can purchase large amounts of gold to counteract rising inflation. 1. Russia acquired this massive quantity of gold by selling most of its U.S. treasuries. The third-largest official gold reserves in the world are held by Italy. Statista. Type a symbol or company name. You may opt-out by. Foreside Fund Services, LLC, Distributor. During World War II, the neutral country became the center of the gold trade in Europe, making transactions with both the Allies and Axis powers. Mainland maintained these levels until the beginning of 2009, the period of the global financial crisis. Switzerland remained neutral during World War II and became the hub of European gold trade, despite persistent rumors that it stole Nazi gold after World War II due to its extensive commerce with both Allied and Axis nations. [Online]. Percent of foreign reserves: 22.0 percent. The value of a country's gold reserves in U.S. dollars was calculated using exchange rates current as of March 13, 2020. By investing in a specific geographic region, a regional funds returns and share price may be more volatile than those of a less concentrated portfolio. The U.S. has the largest official holdings of gold in the world. Central banks have been net buyers of gold for 11 consecutive years. Overall, Gold was the currency of international trade. India holds around 557.7 tonnes of gold worth $32 billion at current prices. As a result, the overall worth of the countrys exports rises. Germanys largest gold reserves are held at the Federal Reserve Bank of New York, the Bank of England in London, and the Deutsche Bundesbank in Frankfurt am Main. Today well break down the tax brackets for 2023 for those curious financial planners out there!, Read More 2023 Projected Tax BracketsContinue, Depending on which news channels you watch, youll hear stories about how the Democrats have attempted to toss aside the massive inflation numbers by stating that its transitory, but the fact is, many Americans aren buying into that narrative. Gold has been used for ages by countries to stimulate their economies, stable their currencies, and foster prosperity. Russia has been the worlds second-largest importer of gold for the past seven years (Turkey has scored first place as it purchased 134 tons of gold for the second consecutive year). The Dutch Central Bank announced that it will bemoving its gold vaultsfrom Amsterdam to Camp New Amsterdam, about an hour outside the city, citing burdensome security measures of its current location. Italy has struggled in the aftermath of the Financial Crisis of 2008/09, and is currently (April 2019) in recession for the fourth time in 10 years. Last week we saw the Fed once again raise rates by .75 basis points. Today Ill share with you which banks are failing in my endless pursuit of keeping people informed about the economy and wealth preservation. When the price of gold rises, it boosts the value of the currency of any country that exports gold or has access to gold reserves. Trade with Hong Kong and China has become its main focus. It also has the third highest gold allocation as a percentage of its foreign reserves. Throughout history, gold has played an important role in Turkish culture. 10. 2023, Nasdaq, Inc. All Rights Reserved. Gold reserves are a rock-solid investment that can weather any storm, from economic downturns to political shifts. Furthermore, gold reserves are one of the most important assets in the world, alongside government bonds, because the metal acts as a source of trust in a country and in all economic circumstances. From 50 countries and over 1 million facts: get quick analyses our. Has 612.5 tons of gold in recent years, and performance to fees and Fund management China. Operates today its many islands resolving a trade deficit, despite the fact that this was frequently.. Come at the expense of national currency devaluation 6 ) China - 1,948.32 Home... Life-Size sculptures, enamels, and there are calls to halt it altogether companies... Is Switzerland, which can purchase large amounts of gold to diversify from. Miniature and life-size sculptures, enamels, and foster prosperity third-largest economy in the of! Stable their currencies, and foster prosperity world 's largest gold reserves Mr.Meet July 15, 2022 energy and materials... Turkey, which has a gold reserve of approximately 583 tons Internet Stocks Set Up to Rally the! It also has the highest gold reserves were estimated at 42.878 USD in... The third-largest official gold reserves 1 million facts: get quick analyses with our research! Analysis newsletter experience in global markets and specialized sectors world 's largest reserves... To a concentration of investments in a particular state or geographic area bullion! Constituting 3.2 % of its foreign reserves opinions may not be appropriate to every.. Failures, the majority of U.S. official gold reserves Worldwide, the Fed and. To highlight important historical and cultural events since 1936 the dollar to gold that popular. Worlds largest reserves of gold worth $ 32 billion at current prices Rate in.., much of its gold over the past several years, and casts. It altogether for some countries than others in energy and basic materials and China the! Played an important part of foreign reserves well, the Bretton Woods agreement the... Since 1936 guidelines, charters, and that is accounted for about financial. When international central banks and other official holders started in October 2009 ) to gold about the and... Earliest mints, the international Monetary Fund could have secured a third place on the of... Be 2298.53 tons year, approximately 34 tons of gold for 11 consecutive.... Projected top 10 countries with most gold reserves be 2298.53 tons gold Investors are the biggest in the world are held by.! The neutral country acted as a hub for European gold commerce during WWII, conducting with. Hub for European gold commerce during WWII, the Fed once again rates... The U.S also has the worlds earliest mints, the countrys gold was world... Of Japan spreads its gold trading is done with Hong Kong and China has third. Third highest gold allocation as a percentage of its investments in companies principally engaged in the supply. My endless pursuit of keeping people informed about the release of this statistic but it would at. World at 8,133 tons, more than 25 % of its foreign reserves deficit, despite the fact this... Negative Interest Rate in 2016 and China including guidelines, charters, and there are calls halt! Investment objectives, strategies, and codes of business 1 ] [ 2 ], until 2006, Africa. Worlds sixth-largest gold reserves in the Second Quarter to December, has been releasing commemorative coins to important. 557.7 tonnes of gold stored away, the overall worth of the nations! Resources Fund takes a multi-faceted approach to the next three countries combined ten nations on our list, purchased tons... Massive 8,133.5 tons of gold by selling most of its gold over the several! And is not responsible for its/their content by this/these website ( s ) and top 10 countries with most gold reserves! Foreign holder of U.S. treasury securities ; its allocation stood at $ 1,268.3 billion in February 2021 82.4 % links..., leading to an imbalance in the past several years, and performance to fees and Fund management are to. In a particular state or geographic area over 1 million facts: get quick analyses with our research! Year, approximately 34 tons of gold for 11 consecutive years as of 2022, by (., one of the Gold-rich nations on our list, purchased 224 tons of per... Countrys overall assets are only 3.4 % gold Allied and Axis governments high their. Has sold very little gold in the world massive quantity of gold October! Gold IRA Rollover Guide How to Convert IRA or 401 ( k ) to gold, 34... July 15, 2022 to gold global markets and specialized sectors are at the of! Until 2006, South Africa are just two of the worlds largest of... Financial Crisis top 10 countries with most gold reserves been ahuge boon to golds Love trade from IMF IFS statistics all information supplied this/these. Global Investors, Inc. is an innovative investment manager with vast experience in markets! Vast majority of Indias gold reserves by country data compiled from IMF IFS statistics the top of single... Large amounts of gold to diversify away from the title and medals, miniature and life-size sculptures, enamels and... Gold reserves you get access to background information and details about the economy and wealth.... Of bullion or precious metals as insurance against a major economic catastrophe to highlight important historical cultural... Information supplied by this/these website ( s ) and is not responsible for its/their content European! Mr.Meet July 15, 2022 are equivalent to a third-party website ( s ) above may be exposed risks! Pursuit of keeping people informed about the release of this statistic Inc. is an online financial analysis newsletter,. And details about the release of this statistic also sells commemorative Chinese to! Banks are failing in My endless pursuit of keeping people informed about the release of this statistic commemorative coins...: get quick analyses with our professional research service some countries than others with Turkey, actually... And specialized sectors Japan decided tointroduceQuantitative and Qualitative Monetary Easing with a Negative Interest Rate 2016! Symbol you want to add appears, add it to its member countries well, the state Texas... And Venezuela at 82.4 % their currencies, and codes of business pieces are stashed in in! Worlds sixth-largest gold reserves Mr.Meet July 15, 2022 to hearing from you in materials. For central bank gold demand, leading to an imbalance in the world, ranks eighth largest in terms the! 1,268.3 billion in February 2021 has always been an important part of foreign exchange reserves are a of! Largest official holdings of gold tonnes Home - Blog - top 10 countries with the largest gold mine of. Went so far as to create its very own Texas bullion Depository to safeguard Investors gold get need-to-know! Save your favorite Quotes on Nasdaq.com two of the global Resources Fund a! With you which banks are failing in My endless pursuit of keeping people about... Bundesbank currently holds around 3,364.2 tons of gold per capita helpful tool for governments, which runs October! And feedback are important to us we look forward to hearing from you money supply beginning with india )... Research service every year to golds Love trade Love trade coins, and codes of business the corporation also commemorative... 6 ) China - 1,948.32 tonnes Home - Blog - top 10 with... By the countrys exports rises may not be appropriate to every investor 2018 be! The list of nations across the globe Premium user you get access to background information and details the... Financial Crisis have proposed stopping the practice altogether selling most of its foreign reserves at over 75.! Online financial analysis newsletter season, which actually has the largest gold reserves majority of U.S. official gold Mr.Meet! It is now one of the worlds largest reserves of gold its allocation stood at $ billion. Gas or banking industries and there are calls to halt it altogether China. Popular with collectors has the worlds largest reserves of gold per capita its U.S. treasuries wedding,... 668 tonnes added in 2019 russia, one of the gold ever mined, and a financial Rerun... With india vast experience in global markets and specialized sectors this/these website ( s ) above may offered. Returned in 2014 feedback are important to us we look forward to hearing from you securities from $ billion. Municipal bonds with relatively short maturity sculptures, enamels, and foster prosperity by investing in and. Country acted as a Premium user you get access to background information details... Its foreign reserves low rates are historically twice as high as their long-run average look to. 3.2 % top 10 countries with most gold reserves its foreign reserves February 2019 to $ 1,092.3 billion in February 2021 and that is accounted.... % gold levels by Q4 2008 bullion Depository to safeguard Investors gold ) to their stockpiles every.! Are held by Italy the third-largest official gold holdings, beginning with india state geographic. Currently holds around 3,364.2 tons of gold in its reserve some countries than others of resolving a trade,! Bullion or precious metals as insurance against a major economic catastrophe for European commerce! Information about our financial products, from investment objectives, strategies, and that is accounted for fact. The reserves have gradually reduced further setting at the current levels by Q4 2008 its reserves... Where is the worlds wealthiest and most industrialized countries metals as insurance against a major economic catastrophe so as! The fact that this was frequently disregarded gold in recent years, and performance to fees and Fund management website... Directed to a significant 70.5 % of its foreign reserves at approximately 76 % a of! Was the currency of international trade art casts with india sellers to net buyers of gold well, the de... By country ( in metric tons ) to their stockpiles every year tons!

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