Global Gold ReservesAccording to the World Gold Council, the...

Global Gold Reserves

According to the World Gold Council, the market development organization for the gold industry, there are approximately 34,891 tons of gold reserves in the world as of Q1 2020.

The top ten central banks with the latest gold reserves have remained relatively the same over the past few years. ten countries with the largest gold reserves in the world are:

1. United States.- 8,134 tons
2. Germany - 3,364 tons
3. Italy - 2,453 tons
4. France - 2,436 tons
5. Russia - 2,299 tons
6. China - 1,948 tons
7. Switzerland - 1,040 tons
8. Japan - 765 tons
9. India - 642 tons
10. Netherlands - 612 tons

The United States has the largest gold reserves in the world at 8,134 tons, more than Germany and Italy combined. The U.S also has the highest gold allocation as a percentage of its foreign reserves at 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.