Top 10 Countries With Highest Gold Reserves
Top 10 countries by gold reserves: India and China central banks have been stocking up on gold for the last few quarters. In fact, RBI’s net purchases for 2024 have already surpassed the number for the entire of 2023! Central banks of both India and China bought 5 tonnes of gold in March 2024. The aggressive gold buying by central banks has been driving up gold prices to record highs. The Central Bank of Turkey has emerged as the largest buyer of gold in March at 14 tonnes! So, which are the top 10 countries with the highest gold reserves? Let’s take a look:
United States of America
USA or the United States of America holds the world’s largest gold reserves at a whopping 8133.46 tonnes as of end March 2024. However, there has been no net change in America’s gold reserves in the last three quarters according to data compiled by the World Gold Council. (AI image)
Germany
Germany holds the world’s second largest gold reserves at 3352.31 tonnes at the end of March 2024. This is significantly lower than the gold reserves with America. Germany’s gold reserves declined marginally from 3352.65 tonnes in the last quarter of 2023, as per World Gold Council Data. (AI image)
Italy
Italy has the record for holding the world’s third highest gold reserves. At the end of the first quarter of 2024, Italy had 2451.84 tonnes of gold reserves. The country’s gold reserves have remained unchanged over the last three quarters, as per World Gold Council data. (AI image)
France
France has the fourth largest gold reserves in the world as of end March 2024, as per World Gold Council data. The country’s gold reserves have largely unchanged in the last three quarters. (AI image)
Russia
Russia ranks fifth in the list of the top 10 countries with the highest gold reserves. Its gold reserves stood at 2332.74 tonnes at the end of March 2024, says World Gold Council data. (AI image)
China
China has been in the news for its central bank buying gold like never before. The People’s Bank of China added 5 tonnes of gold in March 2024 alone. At the end of the first quarter of this calendar year, China’s gold reserves stood at 2262.45 tonnes, a rise of 27.06 tonnes from the last quarter of 2023. (AI image)
Switzerland
Switzerland has gold reserves of 1040 tonnes at the end March 2024, as per World Gold Council data. At the 7th spot in the list, Switzerland’s gold reserves have remained unchanged in the last three quarters. (AI image)
Japan
Japan holds the 8th rank in the list of the top 10 countries with the largest gold reserves. Its gold reserves were at 845.97 tonnes at the end of March 2024. (AI image)
India
The Reserve Bank of India or RBI has been purchasing gold aggressively for some time now. At the end of March 2024, India’s gold reserves with the central bank stood at 822.09 tonnes. This is an increase of 18.51 tonnes compared to the last quarter of 2023. (AI image)
Netherlands
Netherlands is the world’s 10th biggest holder of gold reserves. At the end of March 2024, Netherlands had gold reserves of 612.45 tonnes, as per World Gold Council data. (AI image)