Many Central Banks around the world have Gold Reserves to help them value currency. In the past 10 years, Banks have increased their purchases of this precious metal. This is a list of top 10 countries with the highest Gold Reserves in the world.
No. No. 10 India
India currently has 560.3 Tonnes Gold Bullion
This is not surprising considering that India has 1.25 billion people and is the world’s second largest gold consumer. But it could become the largest. Indians have the highest amount of Gold, with an average Indian owning nearly 1Oz. It is very common to gift it as a gift for weddings or other festivals. Most of the Gold that is owned is in the form jewellery.
The Netherlands holds 612.5 Tonnes Gold Bullion.
You might think that the Dutch only love Tulips and other Flowers. But, they also love Gold. The Central Bank announced recently that it would be moving all its Gold Reserves to a new vault just outside the City. They are also taking back large amounts of Gold they had in foreign vaults.
No. No. 8 Japan
Japan has 765.2 Tonnes Gold Bullion.
Japan has experienced a significant increase in demand for Gold Bullion. Japan is the third largest economy in the world and has been an aggressive buyer for Gold Bullion. Japan reduced interest rates in 2016, which allowed it to buy more Gold from all over the globe. The Yen is one of the strongest currencies in the world. Japan has also sold gold in recent years following the Fukushima Nuclear Disaster.
No. 7 Switzerland
Switzerland has 1040 Tonnes Gold Bullion.
For many years, Switzerland has been regarded as a safe haven to store Gold for institutions and investors from all over the globe. It became a major Gold trading center after the second world war as a neutral country. Switzerland is home to the largest amount of Gold in the world. This is based on the country’s population. Switzerland remains a key destination for Gold Trading and boasts some of today’s most well-known refineries.
No. No. 6 China
China has 1826 Tonnes of Gold Bullion.
China is now a major player within the Gold Reserves. Even though it is a large reserve, it only represents a small portion of the overall reserves. China now publishes annual reports detailing how much Gold it has sold to the rest of the world. China has become one of the largest Gold producers in the world over the past 10 years. It also has a large demand for the precious metal as a result.
No. No. 5 Russia
Russia has 1909 Tonnes of Gold Bullion.
Over the past few years, the Russian Central Bank has been the largest buyer of Gold Bullion as national reserves. It has overtaken China for the 5th spot. In recent years, it has tried to shift away from the US Dollar’s influence. It bought STAGGERING 224 Tonnes Gold Bullion in 2017. It is interesting to note that Russia has sold large quantities of Gold Bullion to US Treasury in recent times.
No. No. 4 France
France has 2436 Tonnes Gold Bullion.
The French love their Gold Bullion. France wants to keep its Gold. It is one of few countries that has managed to preserve most of its gold reserves in the past several years. Talks are underway to stop the sale of Gold, and certain government parties want all Gold Bullion from foreign countries returned to France.
No. 3 Italy
Italy has 2451 Tonnes Gold Bullion.
In terms of the quantity of Gold Bullion in reserve, France and Italy have very little in common. Despite having some economic problems recently, Italy was allowed to keep its Gold reserves thanks to the ECB. It was considered a safety net for times of trouble by the Italians (against USD).
Germany has 3363 Tonnes Gold Bullion.
Germany has the most Gold Bullion in Europe. Over the past year, Germany has been increasing its reserves by reclaiming Gold Bullion that it had stored in the US and France. Over the past few years, Germany has seen a rise in the number of Gold investments within its country.
USA has 8133 Tonnes Gold Bullion.
It’s not surprising that the US is the largest holder of Gold Bullion in the world. It holds more Gold than the other three countries. It stores most of its Gold in Fort Knox. This place has never been robbed. Texas is also where they store Gold.
Now if everyone can start buying Gold from www.goldbullionireland.ie we can try get Ireland on to the list for next year.
Top 10 Countries With Gold Bullion Ireland.
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