From the ancient times and even up to today, gold has always been a very important element and commodity. Nations of the world rely on gold for a variety of means. For one, gold reserves are used to make local currency. It takes a country a significant amount of gold reserves to be able to generate local currency. Second, gold is also used to measure how stable an economy is. Second to financial reserves, gold is the next measure of a nation’s wealth and economic stability. When a nation becomes financially bankrupt, they rely next on their gold reserves. Third and finally, gold is also an important metal as it is the most malleable and one of the most physically appealing. It can be turned into priceless jewelry, ornaments, filings, and other designs.
This list dishes to you the top 10 countries with the largest gold reserves. These countries come from varying socioeconomic backgrounds, geographical locations, land area, and populations. Some of these countries are very rich while some countries are still developing.
Take a look at the list and find out if your country is on the list!
10. India – 557.7 metric tons
India is the world’s second most populous nation and makes up a large part of South Asia, or what they call as the Indian subcontinent. It is rich in natural resources which includes gold. However, the large population of the country makes these resources very competitive and sharing these resources equally among its one billion strong populace has been very challenging. This includes gold.
9. Netherlands – 612.5 metric tons
The Netherlands is a small nation that was once one of the most powerful nations on Earth. It was one of the leaders during the Age of Exploration in the 15th and 16th centuries and is still considered as an economic force to reckon with up to this day. It is one of the world’s most stable nations – as seen in its abundant gold reserves.
8. Japan – 765.2 metric tons
Japan is a country that boast of very little mineral resources, which makes it more admirable that it was able to accumulate this much gold reserves. The Japanese are considered to be one of the world’s most hardworking people and this has greatly contributed to its economic development. It is one of Asia’s most developed nations.
7. Switzerland – 1,040 metric tons
Switzerland is a European nation that is landlocked and is located at the very heart of the European continent. It is a nation that has been made the capital of many leading financial institutions such as the World Bank and the International Monetary Fund. This explains why the nation has a very large and significant reserves of gold.
6. Russia – 1,460.4 metric tons
In terms of land area, Russia is the world’s largest nation. This is a great advantage for the Russian people as it has the monopoly of the vast land resources of the country – including rich gold reserves. Not only that, Russia is also historically one of the world’s most influential nations.
5. China – 1,797.5 metric tons
China is the world’s most populous nation. It is also one of the fastest developing nations on Earth. China has amassed a great deal of wealth and influence over the years and has one of the world’s largest gold reserves.
4. France – 2,435.7 metric tons
France is a leading economic power ands the French have greatly contributed to what the world is today – both the good side and even the bad side. France, being a major economic power, also has gold reserves that are the fourth largest in the world.
3. Italy – 2,451.8 metric tons
Despite severe economic problems in the last few years, the Italian economy has managed to stay afloat by cutting down on costs and expenditures and by stabilizing its major industries and gold reserves. Despite losing its influence and prestige very quickly, Italy remains to have extensive gold reserves.
2. Germany – 3,381 metric tons
Europe’s largest economy is also the economy with the highest gold reserves, and understandably so. This is because Germany has Europe’s most extensive and most advanced economy – the undisputed leader in European economic affairs.
1. United States of America – 8,133.5 metric tons
By far, the USA still has the world’s largest gold reserves bar none. This is not surprising as it is also the world’s largest economy and the last empire of the 20th century.