Gold in the current era is an important part of any country's national reserves due to its durability and security as a store of value.
Central banks in several countries have been holding the yellow metal as reserves amid growing economic difficulties and instabilities.
Gold's appeal 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 safeguard their reserves during market volatility.
Estimates of the countries' gold reserves as of the third quarter of 2023 were recently revealed by the mining organization World Gold Council (WGC). First comment reported on Thursday.
Here is a list of the 10 countries with the largest gold reserves:
- US gold reserves amount to 8,1336.46 tons, according to Forbes.
- Germany has a gold reserve of 3,352.65 tons.
- Italy has the third largest gold reserve with 2,451.84 tons.
- France has gold reserves of 2,436.88 tons
- Russia is in fifth place with gold reserves of up to 2,332.74 tons.
- China has gold reserves of 2,191.53 tons
- Switzerland has gold reserves of 1,040.00 tons
- Japan has gold reserves of 845.97 tons
- India has 800.78 tons of gold reserved,
- The Netherlands has gold reserves of 612.45 tons.
