Gold is a popular investment, and there are many countries that hold gold in their reserves. 24/7 Wall St looked at data from the World Gold Council to determine which countries have the biggest gold reserves.
The United States holds the largest amount of gold in its foreign reserve, with 8,133.5 metric tons of the precious metal. It’s held at Fort Knox, Kentucky, and the Philadelphia Mint.
1. United States
The United States holds more than 8,133 metric tons of gold, more than the next three countries combined. This is an important piece of information if you’re looking to diversify your investment portfolio.
Governments worldwide still house huge stacks of bullion as a failsafe against hyperinflation or another economic calamity. The world’s biggest gold depository is located at Fort Knox, Kentucky, and houses more than 147.3 million ounces of monetary gold from governments across the globe.
Gold is a great hedge against inflation and is highly valued by investors worldwide. It is also an excellent way to diversify your investment portfolio and is one of the oldest commodities in history.
Germany, the most populous country in the European Union, borders nine nations and has an economy that is one of the largest in the world. Its landscape varies from the plains that reach into the North and Baltic seas to the Bavarian Alps in the south.
During the Cold War, the German government built up its gold reserves as a hedge against trade deficits. It stored its gold in the vaults of the New York Fed and the Bank of England, with little or no risk of losing it.
China is home to the world’s largest gold reserves through its central bank, which has quadrupled since the early 2000s. The People’s Bank of China holds more than 2,010 tonnes of gold.
As demand for gold rises, the price of gold increases, making it an increasingly attractive investment option. It’s also a safe haven asset, able to hold its value in times of crisis.
India is a nation with a large population and is considered one of the biggest gold reserves in the world. Its economy includes traditional village farming, industrial-scale agriculture, handicrafts, and a variety of modern industries.
The country is also a significant exporter of information technology services and business outsourcing services.
The country has a strong middle class, with a high percentage of people owning cars and televisions. It is the largest democracy in the world and is increasingly a leader in global economic and political affairs.
Gold has long been a popular means of investment and currency exchange. Governments and central banks around the world maintain a large store of it for several reasons.
Russia is among the largest holders of gold in the world with more than 2,100 tons. The country has a number of mines that produce the metal.
Switzerland is one of the world’s biggest gold reserves, with a value of $247 billion. It’s also a gold refining hub and a major global center for bullion vaults.
During the Second World War, Switzerland’s neutrality allowed it to buy a considerable amount of gold from Allied powers. This helped fund reconstruction after the war.
However, Swiss citizens are now calling on the government to take a much lower percentage of its total reserves in gold. They’re pushing to bring back any gold held in other countries and halt sales.