Names Of 10 Countries With Highest Gold Reserves Revealed

Gold reserves play a vital role in ensuring a nation’s economic stability by serving as a reliable store of value, particularly during periods of financial uncertainty. The gold standard, widely adopted in the late 1800s and a significant portion of the 1900s, involved countries linking the value of their paper currency to gold through a fixed exchange rate. According to Forbes, each unit of currency issued had a corresponding value in gold, enabling individuals to exchange their paper money for actual at the established rate.

While officially abandoned in the 1970s, many countries still maintain gold reserves, and the demand for these reserves is increasing amid growing economic uncertainty. Central banks are once again favoring gold as a primary safe-haven asset. Gold reserves continue to play a crucial role in shaping a country’s creditworthiness and overall economic standing, even as the contemporary economic landscape undergoes changes.

Also Read: Rohit Sharma bats in 2nd Super Over after retiring out in 1st

Top 10 Countries with the Largest Gold Reserves

Forbes reports that the United States leads the world in reserves, holding an impressive 8,136.46 tonnes

Following closely, Germany secures the second position with a substantial reserve of 3,352.65 tonnes.

Italy claims the third spot in global reserves, boasting a significant holding of 2,451.84 tonnes.

France holds the fourth position, maintaining reserves amounting to 2,436.88 tonnes.

Ranking fifth globally, Russia possesses a noteworthy reserve of 2,332.74 tonnes.

As an upper middle-income nation, China stands out with the highest reserves among its peers, totaling 2,191.53 tonnes.

Also Read: Designer Dhruv Kapoor from India is set to make a statement at Milan Fashion Week 2024

Switzerland secures the seventh position, maintaining a robust reserve of 1,040.00 tonnes.

With gold reserves of 845.97 tonnes, Japan holds a respectable position in the global ranking.

Forbes places India at the ninth position, highlighting its significant reserves totaling 800.78 tonnes.

The Netherlands rounds up the top ten, possessing reserves of 612.45 tonnes, according to Forbes.