Countries With The Largest Gold Reserves
Gold reserves are financial assets of a country to pay depositors, secure currency and to finance projects etc. As at 2017 187, 200 tonnes of gold has been mined and the total of the mined gold would stand at around 7.5 trillion US dollars and this figure could grow. Since historic times gold reserves were considered to be a key financial asset and it would amount to the wealth of the nation. Due to this, gold reserves were heavily protected from invaders as it was a major prize of war. The value of gold has been growing over the years and it has always been regarded as a precious metal that can be used as a currency. Every country has some sort of gold reserve. A gold reserve is a type of security for the country. Similarly, gold reserves are heavily guarded as they can be stolen. Gold reserves are one of the most heavily guarded places with more security than certain banks. Most demand for gold comes from countries such as India whom purchase eternity rings Adelaide as such which are part of their wedding culture. Here’s a list of countries with the largest gold reserves.
The United States
The Unites States has the largest gold reserve in the world. The reserves stand at 8133 tonnes of gold which is more than the next three countries with the largest gold reserves. Most of the gold is in Fort Knox Kentucky, which is also a US army post. The demand for gold is always present due to people purchasing chains, good wedding bands and etc.
Germany has the second largest gold reserve in the world but it is significantly lower than The United States at 3381 tonnes. The gold is stored in Germany and many other countries around the world. Germany has decided to repatriate all their gold and have all 3381 tonnes of gold in the country by 2020.
Italy has the 3rd largest gold reserve in the world. The country has been able to successfully maintain its gold reserves over the years. The gold is kept as a reserve of safety to give protection against fluctuations of currencies such as the dollar and pound. The current gold reserve is at 2451 tonnes.
France has the 4th largest reserve of gold in the world. It holds a reserve of 2435 tonnes. The country has been selling its gold reserves over the years but it has been called to stop it completely. Similar to Germany, the country has plans to repatriate their gold from foreign vaults.