10 Countries with Highest Gold Reserve

07/SEPTEMBER /2023

United States of America: 8,133 tonnes 

The New York Fed serves as the gold's guardian and custodian in the US on behalf of account holders, which include the United States government, foreign governments, other central banks, and formal international organisations. 

Germany- 3,355 tonnes 

Germany began collecting gold reserves in 1951, and the Bundesbank has been in charge of these reserves  ever since.

Italy-  2,452 tonnes 

Following WWII, Italy quickly became an exporter, attracting significant inflows of foreign currency, mainly US dollars, a portion of which was used to purchase gold.

France-  2,437 tonnes 

During the French Revolution, the first official French gold reserves were established in 1792, which consisted of gold coins taken from the French royal family and the Catholic Church.

Russia-  2,330 tonnes 

While Russia lacks a Fort Knox, about two-thirds of the country's gold is stored at a Central Bank vault in Moscow. The remainder is housed in St. Petersburg and Yekaterinburg.

China-  2,113 tonnes 

China has been an avid buyer of gold. One of its goals with a high gold reserve is to weaken the US Dollar's dominance in the global market.

Switzerland-  1,040 tonnes 

In Switzerland, gold bullion is categorised as a monetary equivalent, which means it is exempt from customs charges and value-added tax (VAT).

Japan-  846 tonnes 

The main Japanese islands of Hokkaido, Honshu, and Kyushu each have at least six separate epithermal gold provinces and these gold reserves in Japan are overseen by the Bank of Japan.

India-  797 tonnes 

India also has huge gold reserves, which are overseen by the Reserve Bank of India.

The Netherlands- 612 tonnes 

The Netherlands' official gold reserves are handled by De Nederlandsche Bank (DNB), the Dutch central bank, and Eurosystem members.