top 10 countries with most gold reserves

The top ten central banks with the largest gold reserves have remained relatively the same over the past few years (full 100+ country list at page end). Asglobal debt continues to skyrocket, central banks and individual investors alike might want to keep gold in their pockets, as it historically has performed well during times of economic downturn and geopolitical uncertainty. There is currently no government that insists on 100% gold-backing for paper currency. However, Chinas official gold reserves stand at 1,948.3 tons, constituting 3.2% of its foreign reserves. Its Executive Board authorized the initial payout of SDR 700 million to members in February 2012 from these earnings, with the distribution taking effect in October 2012. A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. Frances central bank has sold little of its gold over the past several years. An entrepreneur, world traveler, and active investor that is passionate about navigating through the blockchain by investing in precious metals like gold and silver. The China Region Fund invests in one of the worlds fastest-growing regions. Alipore in South Kolkata, Cherlapally in Hyderabad, Saifabad in Hyderabad, and Noida in Uttar Pradesh are the four mints that produce Indian coins. Physical gold purchases, in particular for national reserves, were reported by the World Gold Council at the end of 2020 to be at a 50-year high and the second-largest sum on record. The third-largest official gold reserves in the world are held by Italy. In terms of population, Switzerland has the greatest gold reserves in the world. Conversely, if a country has little gold in reserve and must import a lot of it, its economy will suffer if the price of gold rises. In 2014, De Nederlandsche Bank (DNB) repatriated some gold back from the U.S. to make its goldspreadin terms of location more balanced. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Global Investors, the products that we offer, or details about your account, visit our frequently asked questions. Foreside Fund Services, LLC, Distributor. As soon as this statistic is updated, you will immediately be notified via e-mail. Below is a list of the top 10 countries that stockpiled the most of this precious metal, making them the largest gold reserves owners. Until 2006, South Africa was the world's largest gold producer. "Global gold production dragged down by Grasberg", "South African production: important but no longer globally significant", "Visualizing Global Gold Production by Country in 2020", "After Decades in the Dark, Sudan May Soon Be Open for Business", https://en.wikipedia.org/w/index.php?title=List_of_countries_by_gold_production&oldid=1127000497, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 12 December 2022, at 10:24. It said, Moving forward, subsequent decisions ongold purchases will bemade subject tofinancial market developments.. It is well acknowledged that central banks buying gold use it as a means of diversifying their holdings. This is because it has not made any additional bullion sales in recent years due to its economic changes under the Erdogan administration in Turkey. Here are our policies and procedures, including guidelines, charters, and codes of business. In December 2010, the IMF completed its sales. However, with 2,814 tons of gold stored away, the International Monetary Fund could have secured a third place on the list. Which Countries Have the Largest Gold Reserves in the World? Then you can access your favorite statistics via the star in the header. The Bank of Japan spreads its gold reserves among its many islands. 2018 could be another strong year for central bank gold demand. [1][2], Until 2006, South Africa was the world's largest gold producer. Widely used in the 19th and 20th centuries, the gold standard was a monetary system in which countries ensured the value of their paper money and coins by keeping equivalent values of actual gold under lock and key. In June 1999, the Governing Board of the SNBdecidedthat half of its then gold reserves of 2,590 tons were no longer required for monetary purposes. Read our Advertising Disclosure. Germany is the second largest holder of gold in the world. 10. When the Fukushima nuclear disaster occurred in 2011, the countrys normal program of routinely purchasing gold was put on hold. Australia and South Africa are just two of the five countries with the largest gold mine reserves in the world. The data is based on International Financial Statistics, May 2020* and World Gold Council reports as well as individual country wise central bank figures. Most of the United States gold reserves, foreign reserves, and other valuables in governmental possession are stored in this vault. With the largest official holdings in the world, the U.S. lays claim to nearly as much gold as the next three countries combined. However, governments continue to keep large quantities of bullion or precious metals as insurance against a major economic catastrophe. China is the largest gold consumer and producer in the world. 9. Near the U.S. Army base known as Fort Knox in Kentucky lies a protected vault known simply as Fort Knox or the United States Bullion Depository. What Impact Do Gold Reserves Have on a Country? As of April 2021, figures from the World Gold Council (WGC) indicated that central banks had purchased 272.9 tons of gold in 2020. In the summer of 2015, the Peoples Bank of China began sharing its gold purchasing activity on a monthly basis for the first time since 2009. Many central banks turned from being net sellers to net buyers in 2010. In 2007, increasing production from other countries and declining production from South Africa meant that China became the largest producer, although no country has approached the scale of South Africa's period of peak production during the late 1960s and early 1970s. A substantial reduction in its gold reserves was witnessed during the sale of gold that took place during a five-year period (2004 - 2009) as part of the Second Central Bank GoldAgreement(CBGA2). Do Not Sell My Personal Information (CA Residents Only). Home - Blog - Top 10 Countries with Largest Gold Reserves. Netherlands Tons: 612.5 Amount held in foreign reserves: 67.4% The majority of Dutch gold reserves have been historically kept in foreign reserves. As of 2021, China will now allow domestic and international banks to import large amounts of the precious metal into the country in an effort to support prices. The Near-Term Tax Free Fund may invest up to 20% of its assets in securities that pay taxable interest. Japan has 765.2 tons of gold in its reserve. During the last year, approximately 34 tons of gold was added by the countrys central bank. The United States holds the number one spot with over 8,000 tonnes of gold. Russia, one of the Gold-rich nations on our list, purchased 224 tons of gold to diversify away from the US currency. Last year Germany completed a four-year repatriation operation to move a total of 674 tonnes of gold from the Banque de France and the Federal Reserve Bank of New York back to its own vaults. Japan has broadly maintained his number since Q2 2001. This page provides values for Gold Reserves reported in several countries. Rajoys government,, Its never too early to start planning ahead! Thats why it makes gold reserves a great inflation hedge. Russia surpassed China in terms of gold reserves in early 2018. Italy has struggled in the aftermath of the Financial Crisis of 2008/09, and is currently (April 2019) in recession for the fourth time in 10 years. In, US Geological Survey. This bank has 2,452 tons of the countrys currency, gold, most of which is in the form of bars (95,493) but also includes some coins. The buying trend continued in 2019 with an annual total of 650.3 trillion, 1% lower than 2018. After selling gold reserves to assist in stabilizing the economy after the catastrophe, the country never fully got back on track. Fascinated by the field of finance and investing? Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. The massive 8,133.5 tons of U.S. official gold holdings are equivalent to the next three countries combined. Italy has likewise maintained the size of its reserves over the years, and it has support from European Central Bank (ECB) President Mario Draghi. The purpose of the gold reserves is to boost confidence in the stability of Italy's financial system and of the single currency. Throughout history, gold has played an important role in Turkish culture. The holders of the largest gold reserves in the world are the U.S. (with 8,133.5 tons), Germany (with 3,359.1 tons), Italy. Moreover, its per-person gold holdings and gold investors are the biggest in the world. By clicking the link(s) above, you will be directed to a third-party website(s). China. Tonnes: 657.7. Germany is the second-largest holder of gold in the world. Gold is a finite physical commodity that has been an integral part of national financial reserves for centuries, and its popularity shows no sign of waning, with central banks expected to be net purchasers of gold almost every year. Gold has been used as a medium of exchange for countless centuries. Hi, Im Arthur, and nobody wants to wake up in their 50s like me that they are in serious debt with minimal assets. India is among the top 10 countries with the largest gold reserves. Last year, official sector activity rose 36% to 366 tonnes a substantial increase from 2016. U.S. Last week we saw the Fed once again raise rates by .75 basis points. Today, much of its gold trading is done with Hong Kong and China. GDP and GDP per capita figures in 2018 are from the World Bank and are in . It stands second in importance to the IMF. Type a symbol or company name. TheBank ofRussiaannouncedthe suspension purchases ofgold inthedomestic bullion market (effective April 1, 2020). The top 10 central banks with the largest gold reserves have remained mostly unchanged for the last few years. In modern day society, gold is used for various purposes, including monetary uses, jewellery . However, when gold prices rise, it weakens the currency of countries that import a lot of it. These symbols will be available throughout the site during your session. Below are the top 10 countries with the largest gold holdings, beginning with India. Below are the top 10 countries with the largest gold holdings, with the rankings remaining unchanged from 2019. Unfortunately, this system collapsed in the 1970s due to concerns that the United States could not maintain a fixed exchange rate for gold and the dollar. France has roughly 64.5% of its gold reserves. Some of the most sought-after coins by collectors are those produced by the German Mint (Mnze Deutschland), which has been the official home of German coins since 1967. A paid subscription is required for full access. As many others have pointed out, this seems odd, given that the bank fairly recently repatriated a large amount of its gold from the U.S. Japan, the worlds third largest economy, is also the eighth largest hoarder of the yellow metal. Banque de France purchases gold from around the world and stores it in a secure vault located 27 meters below the streets of Paris because the country has no domestic gold mines. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating? Gold reserves doubled during the early 2000s, and this increase has occurred chiefly in secret. Despite its usefulness, gold is relatively rare in nature, a fact that makes it all the more valuable. Half of all Dutch gold was located in New York at the time. At the end of the day, the IMF transacted with Brazil and Mexico to sell a total of 12.94 million ounces of gold. US Geological Survey. The value of a country's gold reserves in U.S. dollars was calculated using exchange rates current as of March 13, 2020. They also have the best food processing manufacturers in the world. It had overtaken by China for a period of four quarters back in 201415 (Q2, Q3, and Q4 2014 and Q1 2015). Although Germany didnt start amassing gold until 1951, the Bundesbank has been in control of the countrys reserves ever since. U.S. Although gold demand fell last year after hitting anall-time high in 2016, this European country has seen gold investing steadily rise since the global financial crisis. [3], Production figures are for primary mine production. Right from 1694, when the Bank of England first adopted the gold standard system, until the 1930s when countries began to forsake it, gold was central to the global economic system. The Bank of Italy maintains stringent controls on gold sales, necessitating a regulatory overhaul in Italy. The Mint carries on the priceless methods and workmanship of yesteryear and the exquisite legacy of Italian craftsmanship, in which art and technology combine to produce high-quality, highly specialized work. The country's top gold mine was Canadian Malartic, co-owned by Yamana Gold and Agnico Eagle, which was responsible for producing over 16 tonnes last year. 10. Explore our open positions here. Germanys gold reserves are close to three-fourth (74.3%) of its total foreign reserves. The information provided was current at the time of publication. Are China Internet Stocks Set Up To Rally In The Second Quarter? If imports exceed exports, the value of the currency declines, and vice versa. Type a symbol or company name. Overall, Gold was the currency of international trade. More than 35,000 metric tons of gold, or roughly 20% of all gold ever mined, is presently stored in the worlds central banks. The top 10 central banks with the largest gold reserves have remained mostly unchanged for the last few years. However, amid COVID-19 and high gold prices, the country witnessed a 41% fall in the demand of gold during Q1 2020, falling to an 11-year low of 73.9 tons vis--vis 125.4 tons in Q1 2019. Figures are as of April 2021 and do not include the International Monetary Fund (IMF) as a country, or else it would hold the number three spot with 2,814 tonnes. Language links are at the top of the page across from the title. The hyperinflation that plagued the country from 1919 to 1923, under the Weimar Republic, is deeply embedded in the collective memory of the German people. Business Solutions including all features. Chart. The rising gold price has boosted trade and may have contributed to a reduction in the trade deficit. With a high level of expertise in this specialized sector, our portfolio management team includes professionals with experience in geology, mineral resources and mining finance. Since interest rates, the traditional lever of monetary regulation, have been stuck near zero for over a decade, central banks may be compelled to print more money in times of need. A regime of Negative Interest Rate Policies (NIRP) tends to push the demand higher for gold. This is less than the prior January 2021s number of 45.854 billion USD. First announced in 2013, the move was expected to take until 2020 to complete. As the price and gold demand increase, the currency of any country that exports gold or has a sizable gold reserve will appreciate it. Top Countries with the Largest Gold Reserves Worldwide, The United States, with 8,133.5 Tons of Gold. 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