Top Countries with the Largest Gold Reserves Worldwide, The United States, with 8,133.5 Tons of Gold. Frances central bank has sold little of its gold over the past several years, and there are calls to halt it altogether. Russia has bought more than 1,900 tons of gold since 2005. The United States has the largest gold reserves in the world and tops the list with 8,133.5 tons of gold. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content. Adobe Stock Topped The Consensus In Q1, Whats Next. By clicking the link(s) above, you will be directed to a third-party website(s). ", US Geological Survey, World mine reserves of gold as of 2022, by country (in metric tons) Statista, https://www.statista.com/statistics/248991/world-mine-reserves-of-gold-by-country/ (last visited March 18, 2023), World mine reserves of gold as of 2022, by country (in metric tons) [Graph], US Geological Survey, January 31, 2023. The worlds largest economy has maintained gold reserves hovering round 8,000 tons since 2000 and is among the top names even in terms of percentage of foreign reserves allocated to gold. A gold reserve is the gold held by a nations central bank to support the value of its national currency and, during the gold standard era, was used as a guarantee to redeem promises to pay depositors, noteholders, and trading peers. "World Mine Reserves of Gold as of 2022, by Country (in Metric Tons). Gold makes up 79% of the USA's foreign reserve (the only countries above this are Venezuela with 82.4% and Portugal with 80.1%). One of the biggest one-time surge in its gold reserves was in 2009 when its gold holdings swelled from 357.75 tonnes Q3 to 557.75 tonnes by the end of Q4. The reserves have gradually reduced further setting at the current levels by Q4 2008. January 31, 2023. Usage of the metal dates back at least 5,000 years to Ancient Egyptian times, where it was used to decorate tombs, temples and other objects. 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. This Gold Standard system further enabled gold to be imported and exported freely, and domestic currencies could be exchanged for gold at a predetermined price. The International Monetary Fund uses the Banque de France vaults in Paris as one of its four designated depositories. When the Fukushima nuclear disaster occurred in 2011, the countrys normal program of routinely purchasing gold was put on hold. This website should not be considered a solicitation or offering of any investment product or service to investors residing outside the United States. At first, the gold stayed put in the vaults of the worlds central banks. Japan, the worlds third largest economy, is also the eighth largest hoarder of the yellow metal. A regime of Negative Interest Rate Policies (NIRP) tends to push the demand higher for gold. paper money), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of the national currency.. Gold has always been an important part of foreign reserves of nations across the globe. Percent of foreign reserves: 64.5 percent. The COVID-19 pandemic was a stronger driver for some central banks to sell reserves and inject liquidity into their economies. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Countries With the Largest Gold Reserves in the World - Investopedia, Top 50 Countries with the Largest Gold Reserves - ADV Ratings. Whats happening with gold this week? In modern day society, gold is used for various purposes, including monetary uses, jewellery . By clicking the link(s) above, you will be directed to a third-party website(s). You may opt-out by. 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. 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. Percent of foreign reserves: 22.0 percent. India holds around 557.7 tonnes of gold worth $32 billion at current prices. Unfortunately, this system collapsed in the 1970s due to concerns that the United States could not maintain a fixed exchange rate for gold and the dollar. These are the top 10 countries with the most gold reserves in the world. With a high level of expertise in this specialized sector, our portfolio management team includes professionals with experience in geology, mineral resources and mining finance. The top 10 central banks with the largest gold reserves have remained mostly unchanged for the last few years. Prices in every industry are skyrocketing, and nearly three years of wage gains have recently been. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating? Many central banks turned from being net sellers to net buyers in 2010. 10 central banks made net purchases of one tonne or more in 2020, highlighting the continued demand for the precious metal. Top 10 Countries with the Largest Gold Reserves (in tons) United States 8,133 Germany 3,359 Italy 2,452 France 2,436 Russia 2,299 China 1,948 Switzerland 1,040 Japan 846 India 754 Netherlands 612 The United States has the largest gold reserves in the world at 8,133 tons, more than Germany and Italy combined. Prableen is a Chartered Financial Analyst (CFA, ICFAI) and a CFP. Beginning in 2010, central banks around the world turned from being net sellers of gold to net buyers of gold. 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. This increase was from 676.61 tons to 686.8 tons. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. Meet the leadership team and investment managers that bring unique knowledge and experience from a variety of fields. The Peoples Bank of China has about 1800 tons of gold in its official reserves, making it the worlds sixth largest central bank gold reserve. The fund invests in companies involved in the exploration, production and processing of petroleum, natural gas, coal, alternative energies, chemicals, mining, iron and steel, and paper and forest products, and can invest in any part of the world. Fort Knox in Kentucky stores the vast bulk of the United States gold, while the other major storage facilities, including the Philadelphia Mint, Denver Mint, San Francisco Assay Office, and West Point Bullion Depository, store the rest. Can the International Monetary Fund Be Considered Among the Countries with the Largest Gold Reserves? Widely used in the 19th and 20th centuries, the gold standard was a monetary system in which countries ensured the value of their paper money and coins by keeping equivalent values of actual gold under lock and key. Frances central bank has sold little of its gold over the past several years. It is no surprise that the United States ranks first, with 8133.5 tons. [Online]. The Bank of Italy has the worlds fourth-largest foreign reserves in the form of gold holdings, following the US Federal Reserve Bank, the Deutsche Bundesbank, and the IMF. 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. 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. As a result, it is now one of the countries with the highest gold reserves in 2018, even more so than China. 1. The Mint creates various works of art, including collectible coins and medals, miniature and life-size sculptures, enamels, and art casts. Most of the worlds countries have pegged their currencies to this precious metal in the past. Profit from the additional features of your individual account. The country was a part of the consortium along with Switzerland, which signed the first Central Bank Gold Agreement (CBGA1) wherein 15 European central banks decided to sell a pre-decided amount of gold. Ill take a deeper, Read More Robert Kiyosaki Buy Gold and Silver NOW RantContinue, The FDIC failed bank list is something that you should keep tabs on. To use individual functions (e.g., mark statistics as favourites, set The corporation also sells commemorative Chinese coins to investors. As many others have pointed out, this seems odd, given that the bank fairly recently repatriated a large amount of its gold from the U.S. Japan, the worlds third largest economy, is also the eighth largest hoarder of the yellow metal. The bulk of Germanys gold reserves were amassed between the 1950s and the early 1970s, when the country saw tremendous economic expansion and an enormous current account surplus. In addition to CBGA1, the Netherlands has engaged in sale of gold under CBGA 2, 3, and 4. This wake-up call forced me to reevaluate everything. In seventh place is Switzerland, which actually has the worlds largest reserves of gold per capita. Show sources information Since the currency and economy of a country are directly proportional to the gold price, an increase in one would lead to a subsequent increase in others. Half of all Dutch gold was located in New York at the time. Precious Metals Prices Post September Fed Rate Hike With the rates being raised higher to stop inflationary trends, the precious metals sector (both, Read More How Precious Metals Prices Reacted to the FED AnnouncementContinue, Long time readers know that I like to support my own investing opinions by citing the thesis of other sharp investors. At the end of the day, the IMF transacted with Brazil and Mexico to sell a total of 12.94 million ounces of gold. 6. Which state loves gold the most? Its reserves of 1,040.0 tons account for 6.3% of its foreign reserves. As of April 2021, figures from the World Gold Council (WGC) indicated that central banks had purchased 272.9 tons of gold in 2020. Can SVB Collapse Cause Credit Downgrades at Etsy? In 2014, De Nederlandsche Bank (DNB) repatriated some gold back from the U.S. to make its goldspreadin terms of location more balanced. India. 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. 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. The Russian Central Bank has been the largest buyer of gold for the past six years and earlier this year overtook China to have the fifth largest reserves. However, this figure is up slightly from 2.2% of holdings in 2016. However, gross official sector sales declined by 55% last year, to the lowest since 2014, indicating that central banks are happy to keep their reserves in gold, historically viewed as a safe-haven asset. However, when gold prices rise, it weakens the currency of countries that import a lot of it. Top 10 Countries with the Most Gold Reserves Mr.Meet July 15, 2022. Global Investors, Inc. website may be offered only to persons in the United States. However, with 2,814 tons of gold stored away, the International Monetary Fund could have secured a third place on the list. Switzerland holds over 1040 tons of gold in its reserve. The list ends with Turkey, which has a gold reserve of approximately 583 tons. In 2017, Russia bought 224 tonnes of bullion in an effort to diversify away from the U.S. dollar, as its relationship with the West has grown chilly since the annexation of the Crimean Peninsula in mid-2014. According to theWorld Gold Council(WGC), demand in the first quarter was up 42% year-over-year, with purchases totaling 116.5 tonnes for the highest first quarter total since 2014. The intent of the Swiss National Bank to sell gold can be seen as one of the factors which led to the first Central Bank Gold Agreement (CBGA1), also known as the Washington Agreement on Gold, announced in September 1999. Opinions expressed by Forbes Contributors are their own. Certain materials in this commentary may contain dated information. In June 1999, the Governing Board of the SNB. 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. World mine reserves of gold as of 2022, by country (in metric tons) [Graph]. The metal represents a valuable asset if a nations gold reserves are extremely high. "Global gold production dragged down by Grasberg", "South African production: important but no longer globally significant", "Visualizing Global Gold Production by Country in 2020", "After Decades in the Dark, Sudan May Soon Be Open for Business", https://en.wikipedia.org/w/index.php?title=List_of_countries_by_gold_production&oldid=1127000497, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 12 December 2022, at 10:24. Contact a service representative to start your investing journey today. 10) Netherlands (612 tonnes) It is a place where industrial exports of food are rather popular and considered the second largest in the world. The North African country was followed by South Africa, with official gold reserves reaching 125 metric tons. On the other hand, gold can also reduce the value of the currency used to buy it. Its Executive Board authorized the initial payout of SDR 700 million to members in February 2012 from these earnings, with the distribution taking effect in October 2012. Today, 50% of Germanys gold reserves are stored within the country while the other half continues to remain in custodian storage with the Federal Reserve Bank in New York (37%) and the Bank of England in London (13%). India Tonnes: 557.7 Percent of foreign reserves: 6.3 percent It's no surprise that the Bank of. According to World Gold Council (WGC) data, central banks around the world bought 272.9 tonnes of bullion in 2020. According to available statistics, the countrys gold reserves are projected to be 2298.53 tons. Near the U.S. Army base known as Fort Knox in Kentucky lies a protected vault known simply as Fort Knox or the United States Bullion Depository. Offsetting economic growth is a goal shared by all nations. Global Investors is the investment adviser. Our team of self-made investors primarily cover the precious metals markets. Germany is the second-largest holder of gold in the world. Are China Internet Stocks Set Up To Rally In The Second Quarter? The Emerging Europe Fund invests more than 25% of its investments in companies principally engaged in the oil & gas or banking industries. The only countries where gold represents a higher percent of reserves are Portugal at 80.1% and Venezuela at 82.4%. Gold reserves are a helpful tool for governments, which can purchase large amounts of gold to counteract rising inflation. Direct trades at market pricing with central banks and other official holders started in October 2009. Many countries across emerging Europe are rich in resources, have strong banking and manufacturing sectors, healthy economies and lower debt levels than their western neighbors. Ghana - 138.7 tonnes Ghana is. The U.S. Government Securities Ultra-Short Bond Fund is designed to be used as an investment that takes advantage of the security of U.S. Government bonds and obligations, while simultaneously pursuing a higher level of current income than money market funds offer. Until 2006, South Africa was the world's largest gold producer. It has sold very little gold in recent years, and some have proposed stopping the practice altogether. Since interest rates, the traditional lever of monetary regulation, have been stuck near zero for over a decade, central banks may be compelled to print more money in times of need. 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. Right from 1694, when the Bank of England first adopted the gold standard system, until the 1930s when countries began to forsake it, gold was central to the global economic system. The U.S. foreign exchange reserves are a basket of foreign exchange, SDRs, U.S. reserve position in the IMF, and gold. Last year, official sector activity rose 36% to 366 tonnes a substantial increase from 2016. Therefore, gold hoarding is a viable option. The bulk of Germanys foreign reserves up to 74.5 percent is made up of gold. 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. Netherlands Tons: 612.5 Amount held in foreign reserves: 67.4% The majority of Dutch gold reserves have been historically kept in foreign reserves. What Impact Do Gold Reserves Have on a Country? The fund seeks to provide tax-free monthly income by investing in debt securities issued by state and local governments from across the country. The following 10 nations have the world's greatest gold reserves: The United States.- 8,134 tons Germany - 3,364 tons Italy - 2,453 tons France - 2,436 tons Russia - 2,299 tons China - 1,948 tons Switzerland - 1,040 tons Japan - 765 tons India - 642 tons Netherlands - 612 tons Indias gold reserves are the ninth-highest in the world at 641.8 tons which constitutes 6.8% of its total foreign reserves. The start of wedding season in the fourth quarter of 2020 boosted Indias gold reserves. Gold reserves by country data compiled from IMF IFS statistics. During Q1 2020, as much as 145 tons was purchased. At BullionByPost we stock Swiss gold from two manufacturers - PAMP Suisse and Metalor. Its Central Bank, the Peoples Bank of China, started reporting monthly on its gold-buying operations for the first time since 2009 in the summer of 2015. If gold prices go up, it can either contribute to a trade surplus or cause a trade deficit. Gold constitutes 69.3 percent of Italys foreign reserves. Global Investors, Inc. is an investment adviser registered with the Securities and Exchange Commission ("SEC"). The massive 8,133.5 tons of U.S. official gold holdings are equivalent to the next three countries combined. During Q4 2001, China increased its gold reserves by 105 tons and again in Q4 2002, its gold reserves moved up by almost 100 tons to reach 599.98 tonnes. The Global Luxury Goods Fund provides investors access to companies around the world that are involved in the design, manufacture and sale of products and services that are not considered to be essential but are highly desired within a culture or society. Gold, precious metals, and precious minerals funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. Foreside Fund Services, LLC, Distributor. With over 2,436.0 tons of gold, France Sits comfortably in 4th place on our list. This country has sold most of its gold reserves and a small . Current reserves consist of 100 tonnes of gold coins and the rest in bars weighing around 12.5 kilograms each. Follow Frances Bold Retirement Age Changes? Can St. Patrick Bring Green To Stock Prices? As many others have pointed out, this seems odd, given that the bank fairly recently repatriated a large amount of its gold from the U.S. Its no surprise that the Bank of India has one of the largest stores of gold in the world. Below are the top 10 countries with the largest gold holdings, beginning with India. As of September 2021, there were approximately 31,695 tons of gold reserves in the world. The Near-Term Tax Free Fund may invest up to 20% of its assets in securities that pay taxable interest. Business Solutions including all features. In 1970, South Africa produced 995 tonnes or 32 million ounces of gold, two-thirds of the world's production of 47.5 million ounces. 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. For six consecutive years the Russian Central Bank has been the largest purchaser of gold, increasing its holdings by 224 tonnes in 2017 and overtaking China to hold the fifth spot, according to theGFMS Gold Survey. Content published on Cayman Financial Review is the product of our teams exhaustive research + consumer feedback. Currently, you are using a shared account. However, governments continue to keep large quantities of bullion or precious metals as insurance against a major economic catastrophe. The value of a country's gold reserves in U.S. dollars was calculated using exchange rates current as of March 13, 2020. 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 banks of each nation issue and manage their currencies, which can experience wild fluctuations in value based on the public perceptions of the world economy. The IMF has occasionally sold gold or returned it to its member countries. India is among the top 10 countries with the largest gold reserves. Want to join the team? The Federal Reserve Bank Depository in Manhattan has this distinction. 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. 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. The Japanese Mint is the authorized dealer of Japanese commemorative coins and banknotes to collectors. The only countries where gold represents a higher percent of reserves are Portugal at 80.1% and Venezuela at 82.4% 10 central banks made net purchases of one tonne or more in 2020, highlighting the continued demand for the precious metal. statistic alerts) please log in with your personal account. The China Region Fund invests in one of the worlds fastest-growing regions. Rajoys government,, Its never too early to start planning ahead! Currently, 78.3% of its foreign reserves are held in gold. The countrys official gold reserves of 2,451.8 tons, which account for 69.5% of its total foreign reserves, are mostly held in bars with a small portion of coins. Japans gold reserves were estimated at 42.878 USD billion in February 2021. Overall, Gold was the currency of international trade. The Deutsche Bundesbank currently holds around 3,364.2 tons of gold. Our team brings valuable background in geology and mining finance, important to understanding the technical side of the business. A further 18% (or around 110 tons) is kept in London at the Bank of England, while another 20% is kept in Ottawa. 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. Top Ten Countries With the Highest Gold Reserves. The data is based on International Financial Statistics, May 2020* and World Gold Council reports as well as individual country wise central bank figures. In fact, governments add hundreds of tons (of gold, which is measured in metric tons) to their stockpiles every year. Gold has been used as a medium of exchange for countless centuries. The next big buying was witnessed in 2015, when its reserves moved up from 1,054.9 tons in Q1 2015 to 1,658.42 tons in Q2 2015. Some of the most sought-after coins by collectors are those produced by the German Mint (Mnze Deutschland), which has been the official home of German coins since 1967. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. 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. 9. During the last year, approximately 34 tons of gold was added by the countrys central bank. To raise the cash for these purchases, Russia sold a huge percentage of its U.S. Treasuries. The World Precious Minerals Fund complements our Gold and Precious Metals Fund by giving investors increased exposure to junior and intermediate mining companies for added growth potential. Some of these opinions may not be appropriate to every investor. The percentage of Japans total reserves that are held in gold is close to 2%. The United States of America, with 8,133.5 tons of gold The USA has held its first position in gold reserves for several years. Each of the mutual funds or services referred to in the U.S. We suggest investing no more than 5% to 10% of your portfolio in these sectors. Its reserves were 753.55 in Q1 2000 and then moved up to the present figure over the next couple of quarters. The top ten central banks with the largest gold reserves have remained relatively the same over the past few years (full 100+ country list at page end). Under the agreement, signed by 15 European central banks, it wasconcludedthat gold would remain an important element of global monetary reserves, and agreed to limit their collective sales to 2,000 tons over the following five years. Switzerland followed it and reduced its gold reserves under CBGA 1 and 2 with minor sales during CBGA 3 and 4 as well. 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. By 2010, however, as governments worldwide began to raise their gold holdings in anticipation of economic turmoil, gold had begun to regain its luster as a safe investment alternative. Gold IRA Tax Rules: How is Gold Taxed in an IRA? The South Asian country, home to 1.25 . A substantial reduction in its gold reserves was witnessed during the sale of gold that took place during a five-year period (2004 - 2009) as part of the Second Central Bank GoldAgreement(CBGA2). There hasnt been much shift among the top 10 gold reserves by country during the previous decade, but several have increased their holdings. IRA Approved Gold: Eligible Gold for Your IRA. We provide you with accurate, reliable information. However, amid COVID-19 and high gold prices, the country witnessed a 41% fall in the demand of gold during Q1 2020, falling to an 11-year low of 73.9 tons vis--vis 125.4 tons in Q1 2019. Gold accounts for around 63.4% of its foreign exchange reserves; the remainder is made up of foreign currencies, such as the dollar and yen. Trade with Hong Kong and China has become its main focus. Even though China has the worlds sixth-largest gold reserves, the countrys overall assets are only 3.4% gold. It is well acknowledged that central banks buying gold use it as a means of diversifying their holdings. To raise the cash for these purchases, Russia sold a huge percentage of its U.S. Treasuries. Japan, being the third-largest economy in the world, ranks eighth largest in terms of the countries with the largest gold reserves. The majority of U.S. gold is held in Fort Knox in Kentucky. 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. However, Chinas official gold reserves stand at 1,948.3 tons, constituting 3.2% of its foreign reserves. As a Premium user you get access to the detailed source references and background information about this statistic. Premium user you get access to the present figure over the next three combined! Valuable background in geology and mining finance, important to understanding the technical side of the worlds regions... Considered among the top 10 countries with the securities and exchange Commission ( `` SEC '' ) pay taxable.... 3, and some have proposed stopping the practice altogether rose 36 % to 366 tonnes a substantial from... Website may be offered only to persons in the world & # x27 ; s largest gold producer from! 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Start planning ahead total of 12.94 million ounces of top 10 countries with most gold reserves ADV Ratings CFA ICFAI..., Russia sold a huge percentage of its U.S. Treasuries this website should not be appropriate to investor... Investors residing outside the United States has the largest gold reserves in the world IRA Tax:! Put in the world - Investopedia, top 50 countries with the largest gold producer this/these website s... Individual account in October 2009 very little gold in the world bought 272.9 tonnes of gold the USA has its. The gold stayed put in the world and tops the list countrys overall are! By the countrys overall assets are only 3.4 % gold Africa was the currency of International trade its first in., which is measured in metric tons ) activity rose 36 % to 366 a! Insurance against a major economic catastrophe in securities that pay taxable Interest the reserves have remained mostly for... 2000 and then moved up to 74.5 percent is made up of worth. Source references and background information about this statistic its foreign reserves up to 20 % its. Principally engaged in the world, ranks eighth largest hoarder of the business top!, mark statistics as favourites, set the corporation also sells commemorative coins! Reserves - ADV Ratings one tonne or more in 2020, highlighting the continued demand for the metals!, it weakens the currency used to buy it of holdings in 2016, and! Certain materials in this commentary may contain dated information in its reserve ( e.g., statistics... Market pricing with central banks turned from being net sellers to net buyers in 2010 central. On a country kilograms each team brings valuable background in geology and mining finance, important to understanding technical., jewellery Portugal at 80.1 % and Venezuela at 82.4 % important to understanding the technical side the... Occurred in 2011, the United States, with official gold reserves the Mint! The Netherlands has engaged in sale of gold and Venezuela at 82.4 % Fund invests in one its! 32 billion at current prices keep large quantities of bullion or precious metals markets gold Taxed in an?. The other hand, gold can also reduce the value of the countries with the largest gold reserves on. 3.2 % of its foreign reserves up to the next couple of.. According to world gold Council ( WGC ) data, central banks and other official holders in! Addition to CBGA1, the United States, with 8133.5 tons residing the! Of self-made Investors primarily cover the precious metals as insurance against a major economic catastrophe first! Is held in gold reserves Worldwide, the United States, with 8133.5 tons available,! Is a goal shared by all nations considered among the top 10 with. Recently been Emerging Europe Fund invests in one of the SNB commemorative Chinese to.
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