In this article, we will discuss the 5 countries with most gold reserves in 2024. If you want to read our analysis, you can proceed to the section highlighting the 25 Countries with Most Gold Reserves in 2024.
5. Russia
Gold Reserves in Q4 2023: 2,333 metric tons
Russia is the world’s second-largest producer of gold. In 2023, it produced a total of 324.7 metric tons. Russia is encountering challenges in selling its gold due to the sanctions imposed. Russia maintains a considerable gold reserve of 2,333 metric tons. As of February 24, 2024, Russia’s gold reserves stand at an estimated $155.88 billion.
4. France
Gold Reserves in Q4 2023: 2,437 metric tons
France has a significant gold reserve of 2,437 metric tons. France has the fourth-largest gold reserves in the world. The Banque de France oversees these holdings. These reserves play an essential role in the economic stability of France and as part of the nation’s financial strategy. France’s gold reserves are valued at $162.85 billion as of February 24, 2024.
3. Italy
Gold Reserves in Q4 2023: 2,452 metric tons
Italy possesses the third-largest gold reserves in the world, amounting to 2,452 metric tons. The Italian central bank, Banca d’Italia, manages Italy’s gold reserves. Despite its historical involvement in gold mining activities, Italy has transitioned primarily to gold imports to meet its demand, given the decline in domestic production. As of February 24, 2024, Italy’s gold reserves are valued at $163.84 billion.
2. Germany
Gold Reserves in Q4 2023: 3,353 metric tons
Germany has the second-largest gold reserves in the world, with 3,353 metric tons. Germany’s gold reserve is approximately 59% less than the United States. Germany is Europe’s largest economy. Despite the absence of gold in the country, Germany imports gold in large quantities. The Deutsche Bundesbank oversees the country’s gold reserves. About 69.06% of Germany’s total reserves are comprised of gold. As of February 24, 2024, Germany’s gold reserves are valued at $224.03 billion.
1. United States
Gold Reserves in Q4 2023: 8,133 metric tons
The United States has the most gold reserves in 2024, boasting a stockpile exceeding 8,100 metric tons. Notably, the United States reserves almost match the combined holdings of the next three largest gold-owning nations: Germany, Italy, and France. The United States is also the fifth largest producer of gold. In January 2024, The U.S. Geological Survey reported that 15,000 metric tons of gold have been identified till now, and the United States produced 170 metric tons of gold in 2023. As of February 24, 2024, the United States’ gold reserves are valued at $543.50 billion. United States’ gold reserve is stored across 12 Federal Reserve Banks. A vault at the Federal Reserve Bank of New York is known to contain the largest amount of gold in the world.
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