FX.co ★ Top 6 countries with largest gold reserves in 2020

US

The United States is ranked first on the list of countries with the largest gold reserves. The US holds the largest amount of gold compared to any other country, 8,133.5 tonnes.

Germany

Germany is the second largest keeper of gold. Currently, the country holds 3,370 tonnes of the safe haven asset. Germany started repatriating gold worth billions of dollars from France and the US in 2017. These measures sparked off an intense debate on confidence in central banks.

Italy

Italy takes third place among the countries with impressive gold inventories. The amount of gold the country keeps in its reserves is 2,452 tonnes. The Italian authorities intend to keep accumulating gold in the future.

France

France is ranked fourth among the countries with the largest gold holdings. Currently, the country has 2,436 tonnes of gold. Moreover, the French authorities plan to extend the amount of gold over time.

Russia

Russia is the fifth largest gold holder. The country keeps 2,270.56 tonnes of gold in reserves. Russia increased the current volume of monetary gold in 2019 and plans to accumulate even more. Nowadays, the country is considered the major gold buyer. In 2019, Russia accounted for more than 20% of all gold purchases compared to other countries. Last year, Russia improved its position as gold accumulation in China slowed down.

China

China takes sixth place among the major gold holders. The amount of Chinese gold inventories is not too large. The country does not expand the reserves as it has to deal with other serious matters such as the coronavirus outbreak. In 2018, Russia overtook China to become the fifth largest owner of gold reserves. In 2019, China bought less gold than in the previous year. By the end of December last year, China's gold inventories reached 1,948 tonnes.