Ranked: Countries with Highest Gold Reserves in 2024

SEATTLE (Scrap Monster): - This report ranks the world’s top ten countries by their total gold reserves, based on the figures, as of August this year, cited in the recently published report by the World Gold Council (WGC). The central bank purchases by various countries has remained robust so far this year.

The country with the highest gold reserves in the world is the United States. The country’s gold reserves are estimated at around 8,133 tonnes, valued at approximately $628 billion. Nearly 50% of the country’s stored gold is kept at the Fort Knox Bullion Depository. The second largest gold reserves are held by Germany (3,351 tonnes), followed by Italy with total holdings of 2,452 tonnes.

The others to feature in the top-ten list of countries with largest gold holdings, along with their reserves (in tonnes) are as follows: France (2,437), Russia (2,336), China (2,264), Switzerland (1,040), Japan (846), India (831) and the Netherlands (612).

During the initial six-month period of 2024, the world’s central banks purchased a total of 483 tonnes of gold, thus setting a new record. The largest buyer during H1 this year was Turkey, which reported purchases of 45 tonnes, followed by India, which added 37 tonnes of gold to its reserves during Jan-June ’24. On the other hand, China has halted gold purchases during the past three months.

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