Five countries with the world’s biggest gold reserves

in #gold3 years ago

For 5,000 years, gold has proven its status as the ultimate store of value. Today’s investors rush to buy the precious metal at the faintest market uncertainty. Over the past decade, global central banks have joined the gold rush.

© Getty Images

The volumes of gold gobbled by regulators across the world in 2018 reached the second highest annual total on record, the World Gold Council (WGC) reported earlier this year. The industry research firm highlighted that last year central banks bought 651.5 metric tons of the precious metal, marking a 74 percent year-on-year increase.

Gold ownership by monetary regulators is at a 50-year high with the following states currently making up the list of the world’s biggest holders of gold.

5. Russia
© Global Look Press

Over the past six years, the Russian central bank has been remarkably bullish on gold purchases. In 2017, the country squeezed China out of the list of the top five biggest gold holders. Last year, Russia became the world’s leading buyer of gold with net purchases reaching 651.5 metric tons. In February, the Russian central bank boosted foreign exchange reserves by 31.1 tons of gold, raising holdings of the precious metal to 2,149 tons.

Dumping US treasuries in favor of gold purchases is part of the government-approved policy oriented towards the de-dollarization of the country’s economy.

© AFP / Kenzo Tribouillard

Paris is reportedly holding 2,518 tons of the precious metal, which accounts for about 60 percent of the France’s entire foreign reserves. French politician Marine Le Pen, leader of the National Rally, has been repeatedly calling for a freeze on the sale of the nation’s gold, as well as for the repatriation of all of France’s bullion being held by foreign states.

© Global Look Press / Raimund Kutter

With 2,534 tons of gold in its coffers, Italy landed in the third spot in the ratings. The amount represents nearly 70 percent of the nation’s foreign reserves. According to the policy followed by the Bank of Italy, gold is the safest investment in times of economic turmoil and a safeguard against the volatility of the US dollar.

© Global Look Press / Torsten Kruger

The Deutsche Bundesbank currently owns 3,483 tons of gold, which makes up far more than 70 percent of German foreign reserves. The regulator has been trying to repatriate some 674 tons of gold kept by the Banque de France and the US Federal Reserve Bank. The repatriation of the nation’s gold is expected to be completed by 2020.

United States
© AFP / Mandel Ngan

Washington reportedly holds the world’s biggest gold reserves of 8,407 tons. This accounts for more than 75 percent of the national foreign-exchange reserves. The US Fed has not been as active in buying gold as other countries to prevent the devaluation of the dollar.



While gold is found throughout the world, the USA has incredibly rich reserves. Which may be why we are not actively buying gold in the international market at the moment.

Also may have to do with the fact that gold, while a store of value, may never be a currency again. Also, it's commercial value is is over shadowed by silver.

I too am surprised that China is not on the list. They have been pushing their citizens to buy gold for a number of years now.

Very interesting article.

I think in China it’s mainly citizens not regulators buying gold.

Good point. But it then begs the question, why is the Chinese government pushing the citizens. Are they planning on confiscating in the future?

Posted using Partiko iOS

Citizens there just trust gold as a store of value. Most of them probably remember times where their currency was unstable, don’t trust the stock market and can’t afford or don’t want to put all their savings into real estate.

Surprisingly China is not in the list.

Yes, that surprised me as well. Could it be that this is a list the gold owned by the state rather than individuals?

Hi @oopart thanks for the comment. Here is an article that may throw some light on the matter.

Wow, I didn't expect 3 European countries in the top 5.

Posted using Partiko Android

I'm sure that USA not have this GOLD long time . They could not even pay the Germany gold immediately back...And when they was start pay back after several demands they had also problems to pay back every month this Gold. SO ARE YOU SURE THEY HAVE THIS GOLD... ??? And I also know there are those countries more who asking for GOLD back, and cannot immediately get it back.

siii apesar de que venezuela no tenga tanto oro como estos paises tanbien tiene... para ser una pais pequeño tiene lo suficiente jajaja....

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@rt-international, hello! May I contact you?

Hello, @rt-international. Would you allow translation of some of your reports into Serbian language, like this one?

The way China is buy gold this year, they will be the #2 player by the end of the year. Medium term target is $1700 for Gold, once price gets past $1380.

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