Gold Reserves by Country 2022

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One of the world's most precious metals, gold is a bright, reddish yellow mineral with the elemental symbol Au. Because of its unique mix of practical and aesthetic qualities—it is malleable, ductile, electrically conductive, corrosion resistant, largely non-reactive, and of course, beautiful to behold—gold has a myriad of uses. These range from jewelry and coinage to infrared shielding, gold leafing, tooth restoration, and computers and other electrical devices. Despite its usefulness, gold is relatively rare in nature, a fact that makes it all the more valuable.

Gold has been used as a form of currency since ancient times, which eventually led to the establishment of the gold standard. Widely used in the 19th and 20th centuries, the gold standard was a monetary system in which countries ensured the value of their paper money and coins by keeping equivalent values of actual gold under lock and key. The gold standard became less practical as economies grew, and is not currently used by any of the world's countries. However, many nations still hold significant gold reserves. As of September 2021, there were approximately 31,695 tons of gold reserves in the world. The top ten central banks with the largest gold reserves have remained relatively the same over the past few years (full 100+ country list at page end).

Top 10 Countries with the Largest Gold Reserves (in tons)

  1. United States — 8,133
  2. Germany — 3,359
  3. Italy — 2,452
  4. France — 2,436
  5. Russia — 2,299
  6. China — 1,948
  7. Switzerland — 1,040
  8. Japan — 846
  9. India — 754
  10. Netherlands — 612

The United States has the largest gold reserves in the world at 8,133 tons, more than Germany and Italy combined. The U.S also has the highest gold allocation as a percentage of its foreign reserves at approximately 76%. The majority of U.S. gold is held in Fort Knox in Kentucky. Many central banks turned from being net sellers to net buyers in 2010. Russia has been the largest purchaser of gold for the last seven years, purchasing 274 tons in 2018 alone.

Gold reserves explained

A gold reserve is the gold held by a nation’s central bank to support the value of its national currency and, during the gold standard era, was used as a guarantee to redeem promises to pay depositors, noteholders, and trading peers. Additionally, reserves were amassed by governments to meet the costs of waging war and to acquire and hold “treasure,” because the policies of the time emphasized the importance of doing so.

Gold reserves are a helpful tool for governments, which can purchase large amounts of gold to counteract rising inflation. Additionally, the value of imports and exports from a country is highly connected to the country’s currency. If imports exceed exports, the value of the currency declines, and vice versa. This means that a country that exports gold and has a surplus of gold reserves can often see an increase in the strength of its currency. On the other hand, gold can also reduce the value of the currency used to buy it. If many transactions are made in gold, it can devalue the local currency and cause inflation.

Gold Reserves by Country 2022

Country Tons of Gold in Reserves Month Confirmed
United States8,1332021-Dec
Germany3,3592021-Sep
Italy2,4522021-Sep
France2,4362021-Sep
Russia2,2992021-Sep
China1,9482021-Dec
Switzerland1,0402021-Sep
Japan8462021-Dec
India7542021-Dec
Netherlands6122021-Sep
Taiwan4242021-Sep
Kazakhstan4022021-Dec
Turkey3942021-Dec
Portugal3832021-Sep
Uzbekistan3622021-Dec
Saudi Arabia3232021-Sep
United Kingdom3102021-Dec
Lebanon2872021-Sep
Spain2822021-Sep
Austria2802021-Sep
Thailand2442021-Dec
Poland2312021-Dec
Belgium2272021-Sep
Algeria1742021-Dec
Venezuela1612021-Sep
Philippines1572021-Sep
Singapore1542021-Sep
Brazil1302021-Dec
Sweden1262021-Dec
South Africa1252021-Dec
Mexico1202021-Dec
Libya1172021-Sep
Greece1142021-Sep
South Korea1042021-Sep
Romania1042021-Dec
Iraq96.422021-Sep
Hungary94.492021-Dec
Egypt80.732021-Sep
Australia79.842021-Dec
Kuwait78.972021-Sep
Indonesia78.572021-Sep
Denmark66.552021-Sep
Pakistan64.652021-Dec
Qatar58.272021-Sep
United Arab Emirates54.852021-Sep
Argentina54.772021-Dec
Belarus52.852021-Sep
Cambodia50.452021-Sep
Finland49.142021-Sep
Bolivia42.512021-Sep
Bulgaria40.832021-Dec
Malaysia38.882021-Dec
Jordan37.322021-Sep
Serbia36.932021-Sep
Peru34.682021-Sep
Slovakia31.692021-Sep
Ukraine27.062021-Dec
Syria25.802021-Sep
Morocco22.122021-Sep
Ecuador21.932021-Sep
Afghanistan21.872021-Sep
Nigeria21.372021-Sep
Tajikistan17.192021-Sep
Bangladesh13.972021-Dec
Cyprus13.902021-Sep
Mongolia13.892021-Sep
Mauritius12.442021-Dec
Czech Republic10.582021-Dec
Kyrgyzstan10.192021-Dec
Ghana8.742021-Sep
Paraguay8.192021-Dec
Myanmar7.272021-Sep
Ireland7.032021-Sep
Guatemala6.892021-Dec
Tunisia6.842021-Dec
Sri Lanka6.702021-Sep
Latvia6.662021-Sep
Nepal6.432021-Sep
Lithuania5.822021-Sep
Colombia4.682021-Dec
Bahrain4.672021-Sep
Mozambique3.942021-Sep
Slovenia3.172021-Sep
Aruba3.112021-Sep
Bosnia And Herzegovina2.992021-Sep
Albania2.802021-Sep
Luxembourg2.242021-Sep
Hong Kong2.082021-Sep
Iceland1.982021-Dec
Papua New Guinea1.962021-Sep
Trinidad And Tobago1.942021-Sep
Haiti1.812021-Sep
Yemen1.562021-Sep
Suriname1.462021-Dec
El Salvador1.372021-Sep
Honduras0.692021-Sep
Dominican Republic0.572021-Sep
Chile0.252021-Sep
Estonia0.252021-Sep
Uruguay0.102021-Sep
Malta0.092021-Sep
Burundi0.032021-Sep
Fiji0.032021-Sep
Kenya0.022021-Sep
Oman0.022021-Sep
Canada2021-Sep
Cameroon2021-Sep
Azerbaijan2021-Sep
Nicaragua2021-Sep
Armenia2021-Sep

Gold Reserves by Country 2022

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