As the world’s economic superpower, China has the largest gold reserves of any nation. However, China is not alone — many other countries around the globe have accumulated sizeable gold reserves of their own. In today’s article, we’re looking at the top 10 countries that have the largest gold reserves.
Taking the top spot on our list is China. As the world’s second-largest economy, China holds an impressive amount of gold. The nation has actively accumulated large reserves of the precious metal since its entry into the World Trade Organization, in 2001. Currently, the People’s Republic of China holds more than 62,000 tons of it, making them the world’s largest holder of gold.
Second on our list is the United States. The U.S. fell off its peak gold reserve, in 2013, but still holds more than 8,000 tons of gold. The country has historically been one of the biggest purchasers of gold, consistently adding to its reserves over the years.
Third, we have the European Union. Unlike China and the U.S., the EU does not purchase gold from other nations, but instead looks to add to their reserves through its own national reserves. Currently, the European Union holds over 11,000 tons of gold, making them the third largest holder of gold in the world.
Fourth is Russia, a nation that has actively been purchasing gold over the past several years. As the world’s fourth-largest gold reserves, Russia is believed to hold more than 11,000 tons of the precious metal.
Fifth is India, which rose up the rankings quickly in the last 30 years. Since the turn of the century, the Indian government has actively sought to buy gold from other countries. Currently, India holds more than 6,000 tons of gold, making them the fifth-largest holder of the metal.
Sixth, we have Switzerland. As one of the world’s biggest banking nations, Switzerland holds large reserves of gold, captured through its banking and financial systems. Currently, the country holds more than 5,000 tons of gold.
Seventh, we have Japan. The island nation has large holdings of gold, but its amount has dropped in recent years. According to data from the Bank of Japan, the country holds around 4,500 tons of gold.
Eighth is Taiwan. One of the world’s oldest civilizations, Taiwan has large gold reserves stored away, which it utilizes to ensure economic stability. Currently, the nation holds more than 2,000 tons of gold.
Ninth is France. France has long been seen as a leader in the gold sector, and it currently holds more than 2,000 tons of the metal in its reserves.
Last on our list is Italy. The country has also invested in gold over the years, and currently holds more than 1,000 tons of gold.
As times change, so do gold reserves. Many countries around the world have been actively accumulating large reserves of gold, turning it into one of the top commodities in international trade. With all these nations stockpiling gold, it will be interesting to see who takes the top spot in the future.