A gold reserve is, Gold held by a nation’s central bank to back the value of its local currency, throughout the gold standard era, it was used as a guarantee to redeem intentions to pay depositors, noteholders, and trading peers. Additionally, reserves were combined by governments to meet the costs of waging war and to acquire and hold “treasure,” because the policies of the time emphasised the importance of doing so.
Gold reserves are a supportive tool for governments to purchase large amounts of gold to counteract rising inflation. Additionally, the value of imports and exports from a country is highly connected to the country’s currency. If imports exceed exports, the value of the currency declines, and vice versa. This means that a country that exports gold and has a surplus of gold reserves can often see an increase in the strength of its currency. On the other hand, gold can also reduce the value of the currency used to buy it. If many transactions are made in gold, it can devalue the local currency and cause inflation.
The United States is the largest holder of gold reserves.
Central Banks are considered the largest Gold buyers
Egypt comes at 31st Place after the latest increase in its gold reserves by approximately 44 tones
Below is a list of countries with the largest gold reserves.
Country
Region
Economic grouping
Gold Reserves (Tonnes)
United States of America
North America
High income
8,133.47
Germany
Western Europe
High income
3,358.50
Italy
Western Europe
High income
2,451.84
France
Western Europe
High income
2,436.50
Russian Federation
Central and Eastern Europe
Upper middle income
2,301.64
China
East Asia
Upper middle income
1,948.31
Switzerland
Western Europe
High income
1,040.00
Japan
East Asia
High income
845.97
India
South Asia
Lower middle income
760.40
Netherlands
Western Europe
High income
612.45
Turkey
Central and Eastern Europe
Upper middle income
431.10
Taiwan Province of China
East Asia
High income
423.63
Portugal
Western Europe
High income
382.57
Kazakhstan, Rep. of
Central Asia
Upper middle income
368.12
Uzbekistan, Rep. of
Central Asia
Lower middle income
337.47
Saudi Arabia
The Middle East & North Africa
High income
323.07
United Kingdom
Western Europe
High income
310.29
Lebanon
The Middle East & North Africa
Upper middle income
286.83
Spain
Western Europe
High income
281.58
Austria
Western Europe
High income
279.99
Thailand
South East Asia
Upper middle income
244.16
Poland, Rep. of
Central and Eastern Europe
High income
228.66
Belgium
Western Europe
High income
227.40
Algeria
Middle East & North Africa
Lower middle income
173.56
Venezuela, Republica Bolivariana de
Latin America & Caribbean
Upper middle income
161.22
Philippines
South East Asia
Lower middle income
156.29
Singapore
South East Asia
High income
153.74
Brazil
Latin America & Caribbean
Upper middle income
129.65
Sweden
Western Europe
High income
125.72
South Africa
Sub-Saharan Africa
Upper middle income
125.35
Egypt, Arab Rep. of
The Middle East & North Africa
Lower middle income
124.97
Mexico
Latin America & Caribbean
Upper middle income
119.91
Libya
The Middle East & North Africa
Upper middle income
116.64
Greece
Western Europe
High income
114.12
Korea, Rep. of
East Asia
High income
104.45
Romania
Central and Eastern Europe
High income
103.64
Iraq
The Middle East & North Africa
Upper middle income
96.42
Hungary
Central and Eastern Europe
High income
94.49
Australia
Australasia / Oceania
High income
79.85
Kuwait
The Middle East & North Africa
High income
78.97
Indonesia
South East Asia
Upper middle income
78.57
Denmark
Western Europe
High income
66.55
Pakistan
South Asia
Lower middle income
64.65
Argentina
Latin America & Caribbean
Upper middle income
61.74
United Arab Emirates
The Middle East & North Africa
High income
55.43
Belarus, Rep. of4)
Central and Eastern Europe
Upper middle income
53.37
Qatar
The Middle East & North Africa
High income
51.29
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