10 countries with the largest gold reserves in the world

Stella Takyiwaa Okyere 12:21 - 03 September 2024

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Countries with the largest gold reserves are typically those that have strong economic bases and have accumulated significant gold holdings to stabilise their currencies and economies.

As of the latest data, the following countries have the largest gold reserves:

1. United States

Gold reserves: Approximately 8,133.5 tonnes
The United States holds the largest gold reserves in the world, which represents a significant portion of its total foreign exchange reserves. Most of this gold is stored in Fort Knox, Kentucky, and the Federal Reserve Bank of New York.

Teens hold United States flags at the 1972 Democratic National ConventionDisney General Entertainment Content via Getty Images)

United States (Content via Getty Images)

2. Germany

Gold reserves: Approximately 3,352.3 tonnes
Germany has the second-largest gold reserves. The country has repatriated a significant portion of its gold reserves back to Frankfurt from locations such as the United States and France to ensure security and closer control.

German flags on display outside the Reichstag building in Berlin.Getty Images

German flags.Getty Images

3. Italy

Gold reserves: Approximately 2,451.8 tonnes
Italy maintains large gold reserves, which have been a significant part of its economic strategy, providing stability to its financial system.

italian flag

4. France

Gold reserves: Approximately 2,436.4 tonnes
France has long been a holder of significant gold reserves, which are managed by the Banque de France. Gold is considered an essential element of the country's economic stability and sovereignty.

France

5. Russia

Gold reserves: Approximately 2,298.5 tonnes
In recent years, Russia has been actively increasing its gold reserves as a part of its strategy to reduce dependency on the US dollar and to strengthen its economic resilience.

Russian flag

6. China

Gold reserves: Approximately 2,010.5 tonnes
China has steadily increased its gold holdings over the past decade. The People's Bank of China (PBOC) views gold as a strategic asset that diversifies its foreign exchange reserves.