Gold in today’s age is an important part of any country’s national reserves due to its durability and safety as a store of value.
Central banks of several nations have been keeping the yellow metal as reserves amid rising economic difficulties and instabilities.
Gold’s allure is enhanced by its inverse relationship with the US dollar. When the value of the dollar falls, gold usually increases in value. It helps central banks to safeguard their reserves during market volatility.
The estimations of the gold reserves held by nations as of the third quarter of 2023 were recently revealed by the miner’s organisation, World Gold Council (WGC), Firstpost reported on Thursday.
Here’s a list of the top 10 countries with the largest gold reserves:
- The USA’s gold reserves amount to 8,1336.46 tonnes, according to Forbes.
- Germany has a gold reserve of 3,352.65 tonnes.
- Italy has the third-highest gold reserve of 2,451.84 tonnes
- France has gold reserves of 2,436.88 tonnes
- Russia is at number five with gold reserves of up to 2,332.74 tonnes,
- China has gold reserves of 2,191.53 tonnes
- Switzerland has gold reserves of 1,040.00 tonnes
- Japan has gold reserves of 845.97 tonnes
- India has 800.78 tonnes of reserved gold,
- The Netherlands has gold reserves of 612.45 tonnes