27% of World's Total Gold Reserves Are Owned by Three Countries

SEATTLE (Scrap Monster): The most recent data suggests that nearly 27% of the total global reserves are held by three countries- the U.S., Germany and Italy. Also, almost 50% of the holdings are owned by ten countries. The gold reserves held by all countries across the world totalled 1.85 billion ounces.

The U.S. holds the largest quantity of gold reserves, among world countries. The gold holdings by the country totalled 286.86 million ounces, accounting for almost 15.5% of the total holdings. Germany, with holdings of 188.63 million ounces emerged at the second spot. The country accounted for 6.4% share of the global holdings. In third place was the International Monetary Fund (IMF) with a total holding of 99.24 million ounces. Among countries, Italy occupied the third spot with net holdings of 86.47 million ounces, making up 4.7% of the global gold reserves.

The other countries that featured in the top 10 list, along with holdings in million ounces, were: France (85.91), Russia (80.90), China (69.54), Switzerland (36.67), Japan (26.96) and India (22.11).

Among precious metals, lithium, with global reserves of 492.37 billion ounces, occupies the top spot, followed by silver with 19.3 billion ounces. Gold occupies the third spot. The global holdings of palladium and platinum totalled 1.21 billion ounces and 1.01 billion ounces respectively.

YOU MAY ALSO BE INTERESTED IN:

Central Banks May be Forced to Sell Gold Reserves

Reserve Bank of India Gold Reserves Surged 7%