Largest Country in Terms of Gold Reserves 2024, List of Top-10

Gold has been a symbol of wealth and economic strength throughout history, and countries around the world continue to hold significant gold reserves as a form of financial security. In this article, we will delve into the top 10 countries with the largest gold reserves, exploring the reasons behind their substantial holdings and the impact on the global economy.

What are Gold Reserves?

Gold reserves refer to the quantity of gold held by a country’s central bank or monetary authority as part of its official reserves. These reserves serve as a store of value and provide financial security, acting as a hedge against economic uncertainties. Countries maintain gold reserves to bolster their economic stability, support the national currency, and diversify their overall portfolio of assets, contributing to global financial stability and influencing international monetary dynamics.

How Gold Reserves Contribute to the Economy of a Country?

Gold reserves contribute to a country’s economy by serving as a store of value and a financial buffer. They enhance economic stability, acting as a hedge against currency fluctuations and geopolitical uncertainties. Additionally, gold reserves provide credibility, instill confidence in investors, and play a role in shaping monetary policy, influencing the overall economic resilience of a nation.

Why Do Countries have a Gold Reserve?

Here are some of the reasons for which countries keep gold reserves:

• Economic Confidence: Gold’s stability boosts nations’ economic confidence amid financial uncertainty.
• Currency Value Support: While the gold standard wanes, countries maintain reserves to uphold currency stability.
• Diversification Strategy: Tangible gold assets diversify portfolios, mitigating risks associated with other asset value fluctuations.
• Inverse Dollar Correlation: Gold’s value typically rises when the US dollar weakens, providing a hedge during market volatility.
• Global Economic Standing: Gold in reserves enhances creditworthiness, influencing a country’s position in international trade and finance.
• Crisis Hedge: Gold serves as a crisis hedge, rising in value during economic downturns and geopolitical uncertainties, protecting against inflation and currency devaluation.

Largest Country in Terms of Gold Reserves 2024

As of 2024, the United States holds the top position globally with the largest gold reserves, totaling 8,133.46 tonnes. This substantial reserve is valued at $489,133.74 million, representing an impressive 68.22% of the country’s total holdings. The significant quantity underscores the United States’ commitment to financial stability and its pivotal role in influencing global gold markets. These reserves serve as a foundation for economic strength, bolstering the nation’s position in the international monetary landscape.

Top-10 Countries with Largest Gold Reserves

United States of America, with the gold reserves of 489,133.74, holds the title of the largest country in terms of gold reserves, followed by Germany, Italy, and France.

Here is the list of top-10 countries with largest gold reserves:

LARGETS COUNTRIES IN TERMS OF GOLD RESERVES 2024
Rank	Country	Gold Reserves (in tonnes)	Gold Reserves (in $ millions)
1.	United States of America	8,133.46	489,133.74 (68.22%)
2.	Germany	3,352.65	201,623.07 (67.34%)
3.	Italy	2,451.84	147,449.64 (64.41%)
4.	France	2,436.88	146,551.80 (66.09%)
5.	Russian Federation	2,332.74	140,287.50 (24.67%)
6.	China	2,191.53	131,795.43 (3.98%)
7.	Switzerland	1,040.00	62,543.91 (7.65%)
8.	Japan	845.97	50,875.51 (4.11%)
9.	India	800.78	48,157.71 (8.13%)
10.	Netherlands	612.45	36,832.02 (56.06%)