For thousands of years, the precious metal has been considered one of the substances with the highest value retention. In our time, gold storage serves as a risk compensation for fluctuations in the US $ and as a national reserve for times of crisis. But where on earth are the most extensive gold stocks now? Who sits on the most bars? (Source: statista)
The function of gold reserves
With gold reserves, a country ensures that it remains solvent even in times of crisis. Even if a country’s currency were to lose value significantly, the gold reserves could prevent the government from becoming completely insolvent.
Gold is accepted worldwide as a currency-independent means of payment. Other precious metals such as silver or platinum could never achieve the status of gold as a hedge.
- India (557.8 tons, as of November 2017)
With a current population of around 1.31 billion, India is the second-largest country in the world. Gold is traditionally viewed as an investment in the Indian subcontinent. The Indian state hoards 557.8 tons of the coveted precious metal.
- The Netherlands (612.5 tons)
The neighboring country of Germany has a parliamentary monarchy as a form of government. The current gross domestic product (GDP) of the Netherlands is around € 945.33 billion. The gold reserves amount to 612.5 tons.
- Japan (765.2 tons)
Over 126 million people live in the land of the rising sun. The Asian industrial nation benefits significantly from exports and is one of the world’s economically strongest countries. Japan has 765.2 tons of gold.
- Switzerland (1,040 tons)
The Swiss are almost proverbial businessmen who are particularly well-versed in financial matters. The Swiss franc is seen internationally as a stable currency. One thousand forty tons are hoarded in the country’s gold stores.
- Russia (1,828.6 tons)
In 2018, the Russian gross domestic product (GDP) was reported at around the US $ 1,719.9 billion. The production of crude oil and natural gas is one of the most important economic factors—the Russian state stores 1,828.6 tons of gold.
- China (1842.6 tons)
Especially since the turn of the millennium, China has developed from an emerging country to an up-and-coming industrial nation. China is already the most important buyer of the precious metal. The Chinese gold reserves amount to 1842.6 tons.
- France (2,435.9 tons)
Our western neighbor is one of the developed industrial nations in Europe. In terms of nominal gross domestic product (GDP), France was the sixth-largest economy in the world in 2018. The stocks of the precious metal gold amount to 2,435.9 tons.
- Italy (2,451.8 tons)
Over 60.7 million people live in the southern European country. In a European comparison, Italy ranks 8th in terms of GDP. Italy has gold reserves of 2,451.8 tons.
- Germany (3,373.7 tons)
Germany’s economic strength is unbroken. Germany was the third-largest export and import nation in 2014 and is considered the largest economy in Europe. The German “nest egg” (gold stock) is given as 3,373.7 tons.
- USA (8,133.5 tons)
The Fort Knox myth is only partly true. Although gold is still hoarded at the military base in the US state of Kentucky, the Federal Reserve Bank in New York is said to have more bars of the precious metal stored. The United States’ total gold reserves are 8,133.5 tons.
Suppose you are interested in one of the countries. In that case, you can quickly work out for yourself which values are kept by storing the precious metal using the current price of the precious metal. One troy ounce of gold currently costs around € 1,198.13.
- You Ate a Piece of Bread That Had Mold on It and Now What?It’s happened to all of us at one time or another. You make yourself a sandwich. You’re enjoying it quietly and suddenly… Continue reading You Ate a Piece of Bread That Had Mold on It and Now What?
- Nearby Galaxies, Easy to ObserveWhat galaxy can be seen from Earth? What is the easiest galaxy to see? – The galaxies closest to the Milky Way,… Continue reading Nearby Galaxies, Easy to Observe
- How Do Cell Phones Work?What Is a Cell Phone? Why Are They Called Cell Phones? How Do Cell Phones Work? Cell Phone Components. Since 1983, when… Continue reading How Do Cell Phones Work?
- What is Static Electricity?Have you ever touched someone or something and noticed a small electric shock? This is static electricity. You’re probably wondering what it… Continue reading What is Static Electricity?
- SaltsThe salts have some common characteristics, among them, the conduction of electric current when they are in solution and salty flavor. Salts… Continue reading Salts