The Top 10 Countries That Have The Largest Gold Reserves :

10. Netherlands

Tonnes: 612.5

Percent of foreign reserves: 67.4 percent

The Dutch Central Bank announced that its gold vaults will be relocated from Amsterdam to Camp New Amsterdam, roughly an hour outside of the city, citing the current location's costly security measures. This seems unusual, as many others have pointed out, given that the bank recently returned a considerable portion of its gold from the United States.

9. India

Tonnes: 687.8

Percent of foreign reserves: 6.5 percent

It's no surprise that the Bank of India holds one of the world's largest gold reserves. The South Asian country, which has a population of 1.25 billion people, is the world's second-largest consumer of gold and one of the most consistent generators of global demand. From October through December, India's festival and wedding season has historically been a great boost to gold's Love Trade.

8. Japan

Tonnes: 765.2

Percent of foreign reserves: 3.1 percent

Japan, the world's third-largest economy, is also the world's eighth-largest gold hoarder. Its central bank has been one of the most aggressive practitioners of quantitative easing, lowering interest rates below zero in January 2016, helping to stoke global demand for gold.

7. Switzerland

Tonnes: 1,040.0

Percent of foreign reserves: 5.4 percent

Switzerland, which boasts the world's highest gold reserves per capita, is ranked eighth. During World War II, the neutral country became the epicentre of Europe's gold trade, dealing with both Allies and Axis forces. Today, Hong Kong and China account for the majority of its gold trading.

6. China

Tonnes: 1,948.3

Percent of foreign reserves: 3.3 percent

For the first time since 2009, the People's Bank of China began publishing its gold purchasing activity on a monthly basis in the summer of 2015. Although China ranks sixth in terms of gold reserves, the yellow metal accounts for only 3.3 percent of the country's total holdings. In order to support prices, China would enable local and international banks to import substantial amounts of the precious metal starting in 2021. According to Reuters, as early as April or May, an estimated 150 metric tonnes worth $8.5 billion will be delivered into China.

5. Russia

Tonnes: 2,295.4

Percent of foreign reserves: 22.0 percent

For the previous seven years, the Russian Central Bank has been one of the major purchases of gold, surpassing China to become the fifth largest reserve holder in 2018. In 2017, Russia purchased 224 tonnes of gold bullion in a bid to diversify its currency portfolio away from the US dollar, as relations with the West have deteriorated since the annexation of the Crimean Peninsula in mid-2014. Russia sold a large portion of its US Treasury bonds to acquire funds for these purchases.

4. France

Tonnes: 2,436.0

Percent of foreign reserves: 64.5 percent

Over the last few years, France's central bank has sold very little gold. There are 100 tonnes of gold coins in the current reserves, with the balance held in bars weighing roughly 12.5 kg each. One of the four designated depositories of the International Monetary Fund is the Banque de France vaults in Paris (IMF).

3. Italy

Tonnes: 2,451.8

Percent of foreign reserves: 69.3 percent

Similarly, Italy has maintained the level of its reserves over time. When asked by a reporter in 2013 what role gold plays in a central bank's portfolio, Mario Draghi, the former Bank of Italy governor and European Central Bank governor, said the metal is "a reserve of safety," adding that it "gives you a fairly good protection against fluctuations against the dollar."

2. Germany

Tonnes: 3,362.4

Percent of foreign reserves: 74.5 percent

Germany concluded a four-year repatriation operation in 2017 to return 674 tonnes of gold to its own vaults from the Banque de France and the Federal Reserve Bank of New York. The transfer, which was first announced in 2013, was projected to take until 2020 to complete. Despite the fact that gold demand declined in 2017 after reaching an all-time high in 2016, gold investment in this European country has consistently increased since the global financial crisis.

1. United States

Tonnes: 8,133.5

Percent of foreign reserves: 77.5 percent

With the world's greatest official gold holdings, the United States has roughly as much gold as the following three countries combined. It also has the third-largest gold allotment in terms of foreign reserves. According to what we know, the Philadelphia Mint, Denver Mint, San Francisco Assay Office, and West Point Bullion Depository hold the majority of US gold. Which state is the most enamoured with gold? To protect investors' gold, the state of Texas went so far as to establish its own Texas Bullion Depository.