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  • Writer's pictureAccountant High Wycombe

The Seven Countries with the Largest Gold Reserves

The world's central banks report a total of 33,734.7 tons of gold that remain as part of their reserves, according to the World Gold Council, with figures updated earlier this month. Seven countries concentrate 63% of all that amount of gold metal.

This is the list of the seven nations with the largest gold reserves:

1.- United States

It has a total of 8,133.5 tons of gold in its vaults. An amount that has not changed since 2006, according to the records of the World Gold Council. That gold represents 75.3% of the US international reserves.

2.- Germany

The Germans have 3,371 tons of gold, which represent 70.5% of their international reserves. In the last 10 years they have made sales of this metal for a total of 42.1 tons.

3.- Italy

It is the second European country with the largest gold holdings with 2,451.8 tonnes, equivalent to 67.5% of its international reserves. The records of the World Gold Council do not show any movement of Italy in its gold possessions, at least since 2002, when it began to carry this count.

4.- France

The Gallic nation has 2,436 tons of gold in its vaults (63.4% of its reserves). Between September 2004 and September 2009, it sold 589.2 tons.

5.- Russia

This country has a strong tendency to incorporate gold into its reserves and in the last 10 years it has added 1,477.9 tons, to reach a total of 1,928.2 tons, representing 17.7% of its international reserves.

6.- China

In a similar bet to the Russian, the Chinese have increased their holdings of gold in recent years. In the last decade they have added 1,242.6 tons to accumulate 1,842.6 tons (2.4% of their international reserves).

7.- Sweden

The European nation closes the ranking by registering 1,040 tons of gold representing 5.4% of its international reserves.

And Venezuela?

Venezuela is in position 24 of the world ranking with 150.2 tons. Data from the World Gold Council indicate that the country has sold a total of 217.4 tons in the last five years.

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