Moneycontrol
you are here: HomeNewsWorld
Last Updated : Mar 25, 2018 05:29 PM IST | Source: Moneycontrol.com

Guess which country has the largest gold reserves: Does India make the top 10?

Read on for a list of the countries that have stacked the most gold in their vaults.

Moneycontrol News @moneycontrolcom
Gold has been the go-to investment option for most Indian households. The yellow metal has been part of traditions and is considered one of the top status symbols in Indian culture. With the recent Fed announcement creating a buzz in the gold market, here's a list of the top ten countries that that have the most gold according to a 2016 Forbes report. (Image: Reuters)
1/11

Gold has been the go-to investment option for most Indian households. The yellow metal has been part of traditions and is considered one of the top status symbols in Indian culture. With the recent Fed announcement creating a buzz in the gold market, here's a list of the top ten countries that that have the most gold according to a 2016 Forbes report. (Image: Reuters)

10. India | Tonnes: 557.7 | Although India is the second largest consumer of gold in the world, the Reserve Bank of India holds the 10th position as far as its gold reserves are concerned. (Image: Reuters)
2/11

10. India | Tonnes: 557.7 | Although India is the second largest consumer of gold in the world, the Reserve Bank of India holds the 10th position as far as its gold reserves are concerned. (Image: Reuters)

 9. The Netherlands | Tonnes: 612.5 | The Dutch Central Bank took back a large amount of its gold from the United States in 2016, and was looking to find a place to store its reserves as it was renovating its vaults. The gold reserve would finally be kept at Camp New Amsterdam by 2022, according to DutchNews. (Image: Reuters)
3/11

9. The Netherlands | Tonnes: 612.5 | The Dutch Central Bank took back a large amount of its gold from the United States in 2016, and was looking to find a place to store its reserves as it was renovating its vaults. The gold reserve would finally be kept at Camp New Amsterdam by 2022, according to DutchNews. (Image: Reuters)

8. Japan | Tonnes: 765.2 | The Asian country has been one of the most forward proponents of quantitative easing. Its reserves are so large that in January 2016, it had lowered interest rates below zero and it caused a spike in gold demand around the world. (Image: Reuters)
4/11

8. Japan | Tonnes: 765.2 | The Asian country has been one of the most forward proponents of quantitative easing. Its reserves are so large that in January 2016, it had lowered interest rates below zero and it caused a spike in gold demand around the world. (Image: Reuters)

7. Switzerland | Tonnes: 1,040 | The picturesque country has the largest reserves of gold reserves per capita. The Swiss National Bank posted a USD 5.9 billion profit, mainly due to its large gold holdings. (Image: Reuters)
5/11

7. Switzerland | Tonnes: 1,040 | The picturesque country has the largest reserves of gold reserves per capita. The Swiss National Bank posted a USD 5.9 billion profit, mainly due to its large gold holdings. (Image: Reuters)

6. Russia | Tonnes: 1,460.4 | The country purchased around 206 tonnes of gold in 2015. Russia sold a large percentage of its US treasuries to acquire money for buying the gold. The efforts may be towards diversifying from the US dollar. (Image: Reuters)
6/11

6. Russia | Tonnes: 1,460.4 | The country purchased around 206 tonnes of gold in 2015. Russia sold a large percentage of its US treasuries to acquire money for buying the gold. The efforts may be towards diversifying from the US dollar. (Image: Reuters)

5. China | Tonnes: 1,797.5 | The addition of China’s currency to the International Monetary Fund as a reserve currency prompted the world’s second largest economy to stack up its gold reserves. China is also the world’s largest gold producer. In April 2016, the country introduced a new renminbi-denominated to achieve greater pricing power. (Image: Reuters)
7/11

5. China | Tonnes: 1,797.5 | The addition of China’s currency to the International Monetary Fund as a reserve currency prompted the world’s second largest economy to stack up its gold reserves. China is also the world’s largest gold producer. In April 2016, the country introduced a new renminbi-denominated to achieve greater pricing power. (Image: Reuters)

4. France | Tonnes: 2,435.7 | The Banque de France or the national bank of France holds 2,435.4 tonnes of gold in its official reserves. Italy and France hold nearly the same amount of the precious metal. (Image: Reuters)
8/11

4. France | Tonnes: 2,435.7 | The Banque de France or the national bank of France holds 2,435.4 tonnes of gold in its official reserves. Italy and France hold nearly the same amount of the precious metal. (Image: Reuters)

3. Italy | Tonnes: 2,451.8 | Italy has maintained the size of its reserves over the years and has support from European Central Bank (ECB) President Mario Draghi. The former Bank of Italy governor, when asked what role gold plays in a central banks portfolio, said that the metal was "a reserve of safety." (Image: Reuters)
9/11

3. Italy | Tonnes: 2,451.8 | Italy has maintained the size of its reserves over the years and has support from European Central Bank (ECB) President Mario Draghi. The former Bank of Italy governor, when asked what role gold plays in a central banks portfolio, said that the metal was "a reserve of safety." (Image: Reuters)

2. Germany | Tonnes: 3,381 | Germany looked to bring back its gold reserves back home in 2016 and was in the process of doing so from locations like New York and Paris. The country’s Bundesbank transferred 210 tonnes, and it looks to have the all the 3,381 tonnes back home by 2020. (Image: Reuters)
10/11

2. Germany | Tonnes: 3,381 | Germany looked to bring back its gold reserves back home in 2016 and was in the process of doing so from locations like New York and Paris. The country’s Bundesbank transferred 210 tonnes, and it looks to have the all the 3,381 tonnes back home by 2020. (Image: Reuters)

1. United States | Tonnes: 8,133.5 | The country has the most gold in the world with a majority of the the yellow metal kept at the famous Fort Knox in Kentucky. The remainder of the gold is placed at its Philadelphia Mint, Denver Mint, San Francisco Assay Office and West Point Bullion Depository. (Image: Reuters)
11/11

1. United States | Tonnes: 8,133.5 | The country has the most gold in the world with a majority of the the yellow metal kept at the famous Fort Knox in Kentucky. The remainder of the gold is placed at its Philadelphia Mint, Denver Mint, San Francisco Assay Office and West Point Bullion Depository. (Image: Reuters)

First Published on Mar 25, 2018 03:51 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant