Gold is something that most people would like to have which explains why countries with highest gold reserves are considered to have a lot of investment. There was a time when gold seemed to lose its luster with less people wanting to purchase it but over the past years, it has managed to increase again and people have once again become interested. Not all countries with the highest standard of living have the most gold at present time.
It seems that there are some countries that are waiting for the next thing that will happen to gold because over the past years, it seems to be waiting. The price of gold may either lessen considerably or it might reach its all time high. Nevertheless, a lot of countries are preparing to what might possibly happen with gold.
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In the year 2008, central banks purchased a lot of gold in order to start preserving the value of money because of recession but right now, a lot of central banks are not purchasing that much gold anymore. It is either they have a lot of reserves or they are just not interested. The fact cannot be denied though that gold is still one of the most highly sought after metals in the world and having gold reserves can still be helpful for various countries.
Without further ado, here are the countries with highest gold reserves.
7. India – 555.7 Tonnes
India has increased its gold reserves since the year 2009. It is also the second biggest importer of gold. At the same time, they also purchase gold from various parts of the world. It is common for some people in India to wear gold jewelry. It has also removed its taxes on importing jewelry.
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6. Japan – 765.22 Tonnes
The gold that Japan holds is still unchanged. The last time that it has purchased gold is at the turn of the century but recently, it has announced that it will use the gold in order to improve on its current economy. Japan is considered to be one of the major economies in the world so this move may have a big effect overall.
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5. Switzerland – 1,040 Tonnes
While one thing that Switzerland is known for its banking, this country also shows that it considers gold to be important as well. It has about 7.5% of gold reserves and this can be of big help to the country. The country is still undergoing some major decisions on what it would do with its high percentage of gold reserves still, the amount of gold that it has makes it one of the countries with highest gold reserves.
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4. China – 1,054 Tonnes
The mysterious thing about China is that nobody actually knows how much gold China currently has. It has increased its gold reserves in the years 2008 – 2009 but after that, no details can already be acquired so it is a secret that the country will keep until the time when they will put the gold reserves that they have to good use.
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3. France – 2,435.4 Tonnes
It was in the year 2010 when France started to not become so active in the purchasing and selling of gold but it still does not change the fact that it has about 63.5% of total foreign reserves of gold. It seems that the gold reserves will be used in order to fuel its current economy which is having a bit of a problem as of late.
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2. Germany – 3, 384.2 Tonnes
Germany has always been known as a hoarder of gold and not just any gold but gold bullion. It has about 67% of the total foreign reserves of gold available at present time. It does not have all of its gold in its country however. The country has less than half of their total amount of gold on hold.
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1. United States – 8,133.5 Tonnes
It is not surprising that the United States has the largest economy but it also holds the title for being the country with the most amounts of gold reserves. It seems that the gold reserves in the United States have increased steadily since the year 2005 which explains why it is miles away from the country that holds the second position in this list.
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With all of these details in mind, one cannot help but wonder what will gold actually do to the countries with highest gold reserves, those countries that hold them the most? Will these gold reserves actually be helpful in the future or it will only proceed in countries having something that is worth less than what they have expected.
