Mumbai: Forbes has released the list of countries with largest gold reserves. Most countries in the world maintain a gold reserve. Gold reserves remain instrumental in influencing a country’s creditworthiness and overall economic position.
Gold reserves play a crucial role in ensuring the economic stability of a nation. According to Forbes. Essentially, each unit of currency issued had an equivalent value in gold, allowing individuals to exchange their paper money for real gold at this established rate.
Also Read: Commodity Market: Gold price slips down for third day in a row
Here’s a list of the top 10 countries with the largest gold reserves:
The USA has the world’s highest gold reserves of 8,1336.46 tonnes.
Germany has the second-highest gold reserve of 3,352.65 tonnes.
Italy has the third-highest gold reserve of 2,451.84 tonnes.
France has gold reserves of 2,436.88 tonnes.
With gold reserves of 2,332.74 tonnes, Russia is ranked in fifth place.
China has the highest gold reserves of 2,191.53 tonnes.
Switzerland has gold reserves of 1,040.00 tonnes.
Japan has gold reserves of 845.97 tonnes.
India is ranked 9th on the list with 800.78 tonnes of reserved gold.
The Netherlands has gold reserves of 612.45 tonnes.
Post Your Comments