“Mirror, Mirror on the Wall, Who’s the Richest of Them All?”
Who owns the most physical gold in the world?
The global financial crisis triggered a gold buying frenzy across the world. The yellow metal is a great hedge against inflation. That is why many governments and central banks are expanding their reserves.
To find out who are the riches gold owners follow our top 10 list.
1. USA – 8,965.65 Tons
On top of the list is USA. The United States holds the largest gold reserve in the world. The Bullion Depository in Kentucky is what people know as Fort Knox – the place where gold supplies are stored. Overall, the total gold reserves of the United States amounts to approximately 8965.65 tons and it is worth nearly $358.63 billion.
2. Germany – 3,754.29 Tons
Deutsche Bundesbank is Germany’s central bank and the most influential member of the European System of Central Banks. The Bank has been storing 3754.29 tonnes of gold reserves, worth around 150.17 billion dollars. According to the World Gold Council, Germany’s gold coffers account for 66.1% of total foreign exchange reserves.
3. International Monetary Fund (IMF) – 3,311.84 Tons
The International Monetary Fund oversees the global financial system. The organization follows the macroeconomic policies of its 185 member countries. IMF is formed to stabilize international exchange rates and development. In addition, it offers highly leveraged loans mainly to support poorer countries. Gold policy has changed in the last 25 years, but does affect the gold reserves to international markets. The 3311.84 tons of IMF Gold can be estimated to about $ 132.4 billion in today’s market.
4. Italy – 2,701.9 Tons
The Italian National Bank, Banca D’Italia, manages the country’s large gold holdings. World Gold Council reported that Banca D’Italia’s reserves were 2701.9 tonnes. That makes it the owner of the fourth-largest gold reserves in the world. Ownership is worth 64.9 % of foreign exchange reserves, about108.07 million dollars.
5. France – 2,683.81 Tons
The Banque De France is responsible for France’s gold holdings. The Bank is home to the country’s gold property, which consists of 65.7% of foreign reserves. The French possession amounts to around $107.35 billion. That is 2683.81 tons of gold in reserve.
That puts France on the 5th place of our top list.
6. China – 1,161.6 tons
The most populated country has the sixth largest gold reserves. Their amount is reported to be 1,161.6 tons. With a population of 1.35 billion, the country holds about $34.70 worth of gold per person. That is a total of almost $35 billion. The Chinese gold accounts for only 1.8% of the nation’s total foreign reserves. The last year the country significantly increased the gold import from Hong Kong. China has great ambitions for the future. Expansion of the gold reserve is one of the steps toward that target.
7. Switzerland – 1,146 Tons
Swiss National Bank manages about 1,146 tons of gold. With the world’s seventh-largest reserves in terms of precious metals is headquartered in Switzerland. Its reserve values are about 45.84 billion dollars. That accounts for 27.1% of the foreign exchange reserves.
8. Japan – 843.25 Tons
Japan is the 8th largest gold owner in the world with 843.25 tons. Despite its position Japanese gold accounts for 2.1% of the overall foreign reserves of the nation. On the open market, Japan’s gold reserves would bring approximately $25.4 billion to the Bank of Japan.
9. Russia – 706.38 Tons
The Central Bank of the Russian Federation is responsible for 706.38 tons of country’s gold. The gold worth 28.26 billion dollars and consists 5.1% of the Russian foreign exchange reserves. In 2012 Russia increased gold production due to the launch of several yellow metal new mines.
10. Netherlands – 674.98 Tons
The Netherland central bank, De Nederlandsche Bank, oversees the Dutch national finances. The Bank manages the 674.98 ton reserve of the country. The Dutch gold is currently worth over $ 26.9 billion and accounts for 53.4% of the country’s foreign reserves.
