Countries With the Highest Gold Reserves in the World
- 6 years ago
Countries with The Highest Gold Reserves in the World
When a Country holds a particular amount of gold in their National Bank it is known as the Gold Reserve of that Country.
Gold is served as the basic value of exchange by countries over the years. It is one of the most followed and most valued commodities of all. Countries stock gold in their national banks in case there occurs a situation on higher inflation or economic calamity.
The USA according to the latest survey conducted in 2017 holds the biggest Gold Reserve in the world. Followed by Germany, Italy, France and China. What is interesting to note that the USA holds the largest amount of Gold Reserves almost as big as the combined gold reserve of next three biggest countries.
Following are the Top 5 countries that hold the biggest amount of Gold Reserve:
●USA- The USA being on top holds a total sum of 8,133.5 Tons of Gold in their Reserves. During the time of Bretton Woods system of exchange, US offered other countries to exchange their golds for dollars. And it was noted that the USA after that acquired 90% of the total share of gold in the whole world. The USA keeps its gold reserves in Bullion Depository also known as Fort Knox. It is a Vault Building that holds the maximum amount of Gold Reserves of USA. It is located in USA army center in Fort Knox Kentucky.
●Germany- At number two we have Germany which holds a total sum of 3,387.1 ton of Gold in the world. What is interesting is that Germany doesn't keep all its reserve in the Country. About half of the gold is kept in USA's federal reserve branch in New York and 20% of it in Paris or London.
● Italy- Italy being at number third on this list holds about 2,451.8 tons of Gold in the world. Although during the Eurozone crisis Italy had to sell some of its gold in the world market to raise funds but still it holds the third position in the Top Holders of Gold Reserves in the world.
When a Country holds a particular amount of gold in their National Bank it is known as the Gold Reserve of that Country.
Gold is served as the basic value of exchange by countries over the years. It is one of the most followed and most valued commodities of all. Countries stock gold in their national banks in case there occurs a situation on higher inflation or economic calamity.
The USA according to the latest survey conducted in 2017 holds the biggest Gold Reserve in the world. Followed by Germany, Italy, France and China. What is interesting to note that the USA holds the largest amount of Gold Reserves almost as big as the combined gold reserve of next three biggest countries.
Following are the Top 5 countries that hold the biggest amount of Gold Reserve:
●USA- The USA being on top holds a total sum of 8,133.5 Tons of Gold in their Reserves. During the time of Bretton Woods system of exchange, US offered other countries to exchange their golds for dollars. And it was noted that the USA after that acquired 90% of the total share of gold in the whole world. The USA keeps its gold reserves in Bullion Depository also known as Fort Knox. It is a Vault Building that holds the maximum amount of Gold Reserves of USA. It is located in USA army center in Fort Knox Kentucky.
●Germany- At number two we have Germany which holds a total sum of 3,387.1 ton of Gold in the world. What is interesting is that Germany doesn't keep all its reserve in the Country. About half of the gold is kept in USA's federal reserve branch in New York and 20% of it in Paris or London.
● Italy- Italy being at number third on this list holds about 2,451.8 tons of Gold in the world. Although during the Eurozone crisis Italy had to sell some of its gold in the world market to raise funds but still it holds the third position in the Top Holders of Gold Reserves in the world.