Global Gold Reserves: Top 20 Countries Unveiled
The charm of gold has been mesmerizing humans for centuries, and its worth keeps on rising. As a form of wealth and an indicator of economic strength, gold reserves are crucial to a country's fiscal well-being. The top 20 countries with the highest gold reserves were recently unveiled, and the findings are intriguing.
The United States Leads the Pack
At 8,133.5 tonnes of gold, the United States leads the pack, holding about 78% of its foreign exchange reserves. The reserves of gold in the United States amount to over $200 billion, making it the world's largest gold holder.
India Ranks 8th
India, being the history of gold trade in India, comes in at 8th place, with a gold reserve of 607.5 tonnes. This represents about 6.5% of the foreign exchange reserves of India. The value of India's gold reserves stands at more than $35 billion, reflecting the increased economic power of the nation.
Top 20 Nations
Below are the top 20 nations with the biggest gold reserves:
United States - 8,133.5 tonnes
Germany - 3,363 tonnes
Italy - 2,451.8 tonnes
France - 2,435.5 tonnes
China - 2,168.5 tonnes
Switzerland - 1,040 tonnes
Japan - 765.2 tonnes
India - 607.5 tonnes
Russia - 590.3 tonnes
Turkey - 478.5 tonnes
Taiwan - 423.6 tonnes
South Korea - 393.9 tonnes
Spain - 281.6 tonnes
Austria - 280 tonnes
Netherlands - 247.2 tonnes
Belgium - 227.5 tonnes
Philippines - 196.3 tonnes
Singapore - 192.6 tonnes
Sweden - 172.7 tonnes
Poland - 164.5 tonnes
The World's Total Gold Reserves
Estimates show that the global total gold reserves are about 35,000 tonnes, worth more than $1.5 trillion. Most of the gold is stored by central governments and established banks, with a smaller amount being owned by institutions and private investors.
Conclusion
The top 20 countries with the highest gold reserves ranking is a useful indicator of the world economy and the strategic value of gold in ensuring economic stability. With the increasing demand for gold, it will be interesting to observe how these rankings change in the future.