8 Countries with the Largest Gold Reserves in 2023

5. Russia 

Gold Reserves In 2023: 2329.63 metric tons 

Russia, the world’s second-largest gold producer, averages around 300 metric tons in output annually. Regions like Amur Oblast, Chukotka, and Krasnoyarsk house colossal mines such as Olimpiada, which alone boasts over 30.01 million ounces. The Central Bank of Russia has been aggressively increasing its gold reserves, strategically diversifying from US dollar assets.