Countries which have the biggest gold reserves

This article presents the five largest gold reserves by country. The country with the largest stock of gold remains the United States.

 

 

In total, the global gold stock held by central banks is estimated at over 30 000 tonnes. Among the largest reserves include:

 

United States


The US holds the largest stock of gold, with an amount of 8133.5 tons of gold. Since 1935, the US store their gold reserves in Fort Knox.

Much of the gold stocks owned by the United States belong to other states.

 

Germany


Half of the gold reserves of Germany is supposedly held abroad, the US (45%), the UK (13%) and France (11%). Germany, which had bought the gold in these three countries, wanted to keep it on site to avoid risks related to a transfer.

In 2012, the Bundesbank has asked these countries to repatriate its gold reserves. France has sent gold requested, but the Federal Reserve System (FED) refused to return German gold.

German commissioners came to check the presence (or absence) of this gold in the vaults of the Federal Reserve have also not been allowed to do so. Faced with this refusal, the German authorities have withdrawn their request for repatriation.

Economic experts question the use of the gold by the Fed and if it still holds true gold entrusted to it by other countries.

 

France


The French gold reserves are estimated at 2435.4 tonnes of gold in 2015, representing 67.2% of its foreign exchange reserves.

In 2004, Nicolas Sarkozy, then minister of the Raffarin government economy, decided with Christian Noyer, Governor of the Bank of France, sell « from 500 to 600 tonnes [of gold] about 3000 tonnes held by the Banque de France « , reducing the stock of gold in the country of one fifth (-19.5%)

 

Italy


The gold reserves of Italy are estimated at 2451.8 tons, representing 68.6% of its forex reserves.

Half of the gold, or 1 199.4 tonnes of gold are stored in Italy at Palazzo Koch is the headquarters of the central bank.

A second part is stored at the New York Fed while the rest is the Bank of England in London and Bern in Switzerland.

 

China


China’s gold stock has recently exceeded that of Russia, with gold reserves estimated at 1677.3 tons of gold. Since 2009, the People’s Bank of China increased its gold reserves by more than 60%.

 


  

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