Countries That Owns the Highest Amount of Gold in the World | Forbes Report 2024

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Gold has long been a symbol of wealth and power, playing a crucial role in the global economy. 

Nations hoard gold to secure their financial stability, hedge against inflation, and maintain reserve liquidity. 

Among these countries, the United States stands out as the unrivaled leader in gold reserves.

The Top Ten Gold Hoarding Nations

Let's delve into the top ten countries with the largest gold reserves, analyzing their holdings and what it signifies for their economies.

1. United States of America

- Gold Reserves: 8,133.46 tonnes

- Value: $579,050.15 million

- Percentage of Holdings: 71.33%

The United States holds the largest gold reserves by a significant margin. 

With over 8,133 tonnes of gold, the U.S. reserves constitute 71.33% of its total foreign reserves. 

This vast stockpile, valued at approximately $579 billion, underscores the importance of gold in the American financial system, serving as a cornerstone of its economic security.

2. Germany

- Gold Reserves: 3,352.65 tonnes

- Value: $238,662.64 million

- Percentage of Holdings: 70.56%

Germany follows, with 3,352.65 tonnes of gold, making up 70.56% of its reserves. 

Worth around $238 billion, Germany's substantial gold holdings reflect its historical emphasis on financial stability and conservative monetary policies.

3. Italy

- Gold Reserves: 2,451.84 tonnes

- Value: $174,555.00 million

- Percentage of Holdings: 67.55%

Italy's gold reserves stand at 2,451.84 tonnes, valued at about $175 billion. 

Representing 67.55% of its total reserves, Italy's gold hoarding highlights the country's strategy to safeguard its economic integrity amidst a fluctuating eurozone.

4. France

- Gold Reserves: 2,436.88 tonnes

- Value: $173,492.11 million

- Percentage of Holdings: 68.61%

France holds 2,436.88 tonnes of gold, with a valuation close to $173 billion. 

This makes up 68.61% of its foreign reserves, illustrating France’s reliance on gold as a key financial asset.

5. Russian Federation

- Gold Reserves: 2,332.74 tonnes

- Value: $166,076.25 million

- Percentage of Holdings: 28.14%

Russia’s gold reserves, totaling 2,332.74 tonnes and valued at approximately $166 billion, account for 28.14% of its total reserves. 

This significant reserve reflects Russia's strategy to diversify away from foreign currencies, particularly in light of economic sanctions.

6. China

- Gold Reserves: 2,262.45 tonnes

- Value: $161,071.82 million

- Percentage of Holdings: 4.64%

China holds 2,262.45 tonnes of gold, valued at $161 billion, but this only constitutes 4.64% of its reserves. 

Despite its substantial absolute amount, the relatively low percentage indicates China's extensive diversification into other assets.

7. Switzerland

- Gold Reserves: 1,040.00 tonnes

- Value: $69,495.46 million

- Percentage of Holdings: 8.04%

Switzerland, known for its strong banking sector, has 1,040 tonnes of gold worth around $69.5 billion. 

This represents 8.04% of its reserves, reflecting the country's historic and ongoing commitment to financial stability.

8. Japan

- Gold Reserves: 845.97 tonnes

- Value: $60,227.84 million

- Percentage of Holdings: 4.67%

Japan holds 845.97 tonnes of gold, valued at about $60 billion, making up just 4.67% of its reserves. 

Japan’s focus has traditionally been on other financial instruments, given its economic strategies and policies.

9. India

- Gold Reserves: 822.09 tonnes

- Value: $58,527.34 million

- Percentage of Holdings: 8.98%

India’s gold reserves total 822.09 tonnes, valued at roughly $58.5 billion, constituting 8.98% of its total reserves. 

Gold plays a culturally significant role in India, both as a store of value and a part of religious and social customs.

10. Netherlands

- Gold Reserves: 612.45 tonnes

- Value: $43,602.77 million

- Percentage of Holdings: 60.47%

The Netherlands holds 612.45 tonnes of gold, worth approximately $43.6 billion. 

This constitutes a significant 60.47% of its total reserves, reflecting a prudent approach to reserve management.

The United States, with its massive 8,133.46 tonnes of gold, clearly leads the pack in gold reserves, showcasing the metal's crucial role in national financial security. 

Other countries like Germany, Italy, and France also maintain large gold reserves, emphasizing stability and trust in this precious metal.

Gold remains a vital part of national reserves, offering a hedge against economic uncertainty and a reliable store of value. 

While strategies and percentages of holdings vary, the prominence of gold in global finance is undisputed.

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