Home Facts Top 10 Countries with Largest Gold Reserves

Top 10 Countries with Largest Gold Reserves

Top 10 Countries with Largest Gold Reserves

Top 10 Countries with Largest Gold Reserves

The nations of the world had 34,700 tons of gold reserves, as of January 2020. Countries maintain gold reserves to stabilize currency against hyperinflation, particularly in the event of a major crisis like the one many economies worldwide currently face as a result of the coronavirus pandemic. Relatively few countries, however, have large gold reserves. In fact, over 80% of the world’s national gold reserves is held by the central banks and finance ministries of the countries. 

Gold is the most followed and traded commodity on the planet. Central banks hold gold reserves as insurance to support and stabilize fiat currency against hyperinflation and during economic catastrophes.

Here’s a list of the top 12 countries holding the highest official gold reserves. These nations together add up to almost three-fourths of the central bank official reserves globally.

10 Netherlands

• Gold reserves as of January 2020: 612.5 tonnes

• Gold reserves in USD as of January 2020: $30.8 billion

• Gold as % of total foreign exchange reserves: 70.2%

• GDP: $858 billion ($49,787 per capita)

• Population: 17.2 million

9India

• Gold reserves as of January 2020: 635 tonnes

• Gold reserves in USD as of January 2020: $31.9 billion

• Gold as % of total foreign exchange reserves: 7%

• GDP: $9.3 trillion ($6,888 per capita)

• Population: 1.4 billion

8Japan

• Gold reserves as of January 2020: 765.2 tonnes

• Gold reserves in USD as of January 2020: $38.4 billion

• Gold as % of total foreign exchange reserves: 2.9%

• GDP: $5 trillion ($39,294 per capita)

• Population: 126.5 million

7Switzerland

• Gold reserves as of January 2020: 1,040.0 tonnes

• Gold reserves in USD as of January 2020: $52.3 billion

• Gold as % of total foreign exchange reserves: 6.2%

• GDP: $505 billion ($59,317 per capita)

• Population: 8.5 million

6China

• Gold reserves as of January 2020: 1,948.3 tonnes

• Gold reserves in USD as of January 2020: $97.9 billion

• Gold as % of total foreign exchange reserves: 3.1%

• GDP: $22.5 trillion ($16,182 per capita)

• Population: 1.4 billion

5Russia

• Gold reserves as of January 2020: 2,279.2 tonnes

• Gold reserves in USD as of January 2020: $114.5 billion

• Gold as % of total foreign exchange reserves: 20.6%

• GDP: $3.8 trillion ($24,791 per capita)

• Population: 144.5 million

4France

• Gold reserves as of January 2020: 2,436.0 tonnes

• Gold reserves in USD as of January 2020: $122.4 billion

• Gold as % of total foreign exchange reserves: 63.6%

• GDP: $2.6 trillion ($39,556 per capita)

• Population: 67 million

3Italy

• Gold reserves as of January 2020: 2,451.8 tonnes

• Gold reserves in USD as of January 2020: $123.2 billion

• Gold as % of total foreign exchange reserves: 69.3%

• GDP: $2.2 trillion ($35,828 per capita)

• Population: 60.4 million

2Germany

• Gold reserves as of January 2020: 3,366.5 tonnes

• Gold reserves in USD as of January 2020: $169.1 billion

• Gold as % of total foreign exchange reserves: 74%

• GDP: $3.8 trillion ($45,936 per capita)

• Population: 82.9 million

1United States

• Gold reserves as of January 2020: 8,133.5 tonnes

• Gold reserves in USD as of January 2020: $408.7 billion

• Gold as % of total foreign exchange reserves: 77.9%

• GDP: $18.2 trillion ($55,719 per capita)

• Population: 327.2 million