Central banks are significant gold holders and play an important role in the management of reserves. A gold reserve is a gold owned by a country's central bank to support the value of its currency, and it was used as a pledge to redeem commitments to pay depositors, noteholders, or trading peers during gold standard periods.
Governments place a high value on gold reserves. When inflation starts to rise, governments will buy large amounts of gold as a countermeasure. The IMF, on the other hand, would have been third on the list, with 2, tonnes of gold in its vaults.
The top ten countries with the most gold are listed below. The US stands in first place with 8, The Treasury Department of the United States manages it.
The vault houses a significant portion of the US gold reserves, as well as other valuables owned by or in the custody of the federal government. Germany completed a four-year repatriation operation in to return tonnes of gold to its own vaults from the Banque de France and the Federal Reserve Bank of New York. Which country has the highest gold reserves? The United States of America tops the list by holding around 8, What is the gold reserve for India?
India currently holds a gold reserve of approximately tonnes. Which country has the cheapest gold in the world? Dubai UAE has the cheapest gold in the world. How much gold does China hold? Then you will be able to mark statistics as favourites and use personal statistics alerts.
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You need to be signed in for this feature. Countries that own the most gold Gallery View. Expand View. Who's stockpiling gold? South Africa is home to the largest single source of gold the world has ever seen: Witwatersrand Basin. Those looking for a secure place to store their gold often settle on Singapore, because the country has not been tarnished by any major corruption scandals, crime is low and so are taxes, plus the costs of gold storage here are incredibly competitive.
The country itself has also got a substantial reserve of gold: The Philippines is one of Asia's largest gold producers. Although mining is big business here, it's thought that much of its gold remains untapped. Desperately poor locals hoping to get lucky and literally strike gold even undertake dangerous dives in mud-filled swamp mines in search of the precious metal.
The country has large reserves of gold already, however, with The north African country of Algeria has over 12 tonnes of gold more than Venezuela, with It also has a strong gold mining tradition, with gold thought to have been mined here on a small scale since pre-Roman times. The government has only recently taken steps to encourage commercial gold mining on a large scale as it's thought that there is a great deal of wealth hidden beneath its soil.
Belgium is holding on to Most of this is thought to be held abroad: some in the Bank of England and some in the Bank of Canada. There had been talk of the country looking into repatriating its stocks back to Belgium, but it's thought that the transport and security costs involved in the move were prohibitive and Belgium was unsure where to store it if it did return to home soil.
Thailand has added more than 90 tonnes of gold to its stockpile in the most recent quarter, bringing its total reserves to Thailand mines its own gold and the Thai people place a high value on the precious metal.
In fact, southeast Asians as a whole are much keener on gold, for jewellery in particular, than people anywhere else in the world.
Spain holds just over a tonne more gold than Austria. Gold mining has been going on in Spain since pre-Christian times and it was the Romans who turned it into a flourishing industry. There is now a renewed interest in Spanish gold with a lot of prospector activity being carried out in the hope of being able to strike it lucky. It's unlikely to impact heavily on the country's gold reserves, however.
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