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Countries have been stockpiling gold in the recent
years as low borrowing costs combined with an unprecedented amount of
central-bank stimulus programs have boosted its appeal. Once just
considered an inflation hedge, gold is now also used as a safe haven
investment and a protection against currency devaluation as global
stimulus programs threaten to devalue the world’s reserve currencies.
Here is a top ten list of the country’s holding the most gold as
reserves:
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Netherlands - Gold holdings: 612.5 tonnes - Percentage of total foreign
reserves: 58.7%
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Japan - Gold holdings: 765.2 tonnes - Percentage of total foreign
reserves: 3.1%
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Russia - Gold holdings: 976.9 tonnes - Percentage of total foreign
reserves: 9.5%
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Switzerland - Gold holdings: 1,040.1 tonnes - Percentage of total
foreign reserves: 10.0%
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China - Gold holdings: 1,054.1 tonnes - Percentage of total foreign
reserves: 1.6%
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France - Gold holdings: 2,435.4 tonnes - Percentage of total foreign
reserves: 69.5%
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Italy - Gold holdings: 2,451.8 tonnes - Percentage of total foreign
reserves: 71.3%
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IMF - Â The IMF holds a relatively large amount of gold among its
assets. The IMF’s total gold holdings are valued on its balance sheet at
about $4.9 billion on the basis of historical cost. - Gold holdings:
2,814.0 tonnes
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Germany - Gold holdings: 3,391.3 tonnes - Percentage of total foreign
reserves: 72.1%
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United States - The United States of America holds more gold than any
other country in the world. -Gold holdings: 8,133.5 tonnes - Percentage
of total foreign reserves: 75.1% |