Gold reserves are essential for upholding a nation’s economic stability, and acting as a reliable store of value, particularly during periods of financial turbulence. The adoption of the gold standard, prevalent in the late 1800s and a significant portion of the 1900s, entailed countries linking the value of their paper currency to gold.
The importance of gold reserves persists in shaping a country’s creditworthiness and overall economic standing, enduring despite shifts in the contemporary economic environment.
Here are the current rankings of gold reserves by country in Q3, 2023, estimated by the World Gold Council:
- United States of America
Topping the list is the United States, with an impressive gold reserve of 8,133.46 tonnes, valued at $489,133.74 million.
2) Germany
Germany with 3,352.65 tonnes of gold, valued at $201,623.07 million.
3) Italy
Italy with a gold reserve of 2,451.84 tonnes, amounting to $147,449.64 million.
4) France
With 2,436.88 tonnes of gold valued at $146,551.80 million.
5) Russian Federation
The Russian Federation with a gold reserve of 2,332.74 tonnes, valued at $140,287.50 million.
6) China
China with 2,191.53 tonnes of gold, equivalent to $131,795.43 million.
7) Switzerland
Switzerland with a gold reserve of 1,040.00 tonnes, valued at $62,543.91 million.
8) Japan
Japan with 845.97 tonnes of gold, valued at $50,875.51 million.
9) India
India With 800.78 tonnes of gold valued at $48,157.71 million.
10) Netherlands
Netherlands with a gold reserve of 612.45 tonnes, amounting to $36,832.02 million.
