Gold is an important part of any country’s national reserves today due to its durability and value.
Central banks in many countries are holding the yellow metal as reserves amid growing economic difficulties and instability.
Gold’s allure is enhanced by its inverse correlation with the US dollar. When the value of the dollar falls, the value of gold usually rises. It helps central banks protect their reserves during market fluctuations.
The World Gold Council, a mining organization, recently revealed the estimated gold reserves held by nations by the third quarter of 2023, First Post reported.
Here is the list of top 10 countries with the largest gold reserves:
According to Forbes, US gold reserves are 8,1336.46 tons.
Germany has 3,352.65 tons of gold reserves.
Italy has the third largest gold reserves at 2,451.84 tonnes.
France has 2,436.88 tons of gold reserves.
Russia is at the fifth position with gold reserves of 2,332.74 tonnes.
China has 2,191.53 tons of gold reserves.
Switzerland has gold reserves of 1,040.00 tons.
Japan has gold reserves of 845.97 tons.
India has 800.78 tonnes of safe gold.
The Netherlands has 612.45 tonnes of gold reserves.
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