Five Countries Where Wealth is Held in Gold

While currencies come and go, gold has long-lasting properties that have kept its value for thousands of years. As a result, gold remains a significant investment for many countries, with the world’s largest central banks holding a sizable portion of their reserves in gold.

Which nations have the most gold reserves? Which countries have the most gold purchases by retail investors? Let’s see:

China’s eager secrecy

China’s actual gold reserves are probably tens of times higher than officially declared.

China has become the world’s largest gold miner and active gold buyer within a few decades. For its part, the Chinese state has supported gold imports, but gold exports have been made extremely difficult.

China’s official gold reserves amount to around 2 000 tonnes. However, the actual figure is a closely guarded secret. Experts agree that the true figure could be many times higher, with various estimates suggesting that local commercial banks and state-owned companies hold between 20 000 and 22 000 tonnes of gold. No other national government controls that much gold.

Since the pandemic, China has bought even more gold, setting a record for the last five years this summer.

Fort Knox (USA)

Fort Knox Gold Depository in Kentucky, USA, is one of the safest places in the world.

Fort Knox Fort Knox is one of the best-known forts in the United States. It is considered one of the safest places in the world. A large part of the US’s gold reserves is held at Fort Knox, a place familiar to readers of many thrillers and thriller movies.

The Federal Reserve (the US central bank) holds more than 8,100 tonnes of gold, worth almost USD 450 billion. Ben Bernanke, who served as Federal Reserve Chairman from 2006 to 2014, said he does not see gold as money. When Congressman and libertarian Ron Paul asked why diamonds, for example, were not held as reserves, he said: “It’s a tradition.” It is up to readers to judge whether gold is a tradition for them or something more.

Traditions make people buy gold (India).

According to Indian tradition, gold plays a unique and vital role in weddings.

Speaking of traditions, in India, as much as 25 000 tonnes of gold are believed to be held in private hands. Gold has a significant place in Indian culture and tradition. Gold possession and jewelry is considered a symbol of status, power, and wealth. It also represents good health, wealth, and femininity.

Gold is also a traditional gift in the country, especially for marriage rituals. Purchases for weddings account for 50 percent of annual gold demand in India. However, the country’s official gold reserves only 600-700 tonnes.

The Indian economy has become the third-largest economy in the world. It has also emerged as one of the most important gold markets globally, as people’s purchasing power has increased substantially over the past decades.

The gold of the old empire remains (UK)

River Thames. London is one of the world’s leading financial centers.

The UK, which lost its imperial status last century, has official gold reserves of just 300 tonnes. Still, London has a total of more than 6,000 tonnes.

London has historically been one of the largest financial centers, with around 400 000 gold bullion pieces officially held in its vaults. Belonging to the kingdom, other national central banks, and corporations.

The extensive gold holdings help maintain London’s financial center position. They underpin financial stability in the region and provide central banks and corporates with easy access to the London gold market.

Germany’s wealthy keep their money in gold

Germans who love tradition want to be sure their money is safe, which is why they invest heavily in gold.

Germans who love tradition want to ensure their money is safe, so they invest heavily in gold.

A study by Steinbeis University in Berlin last year found that Germany has around 9,100 tonnes of gold in private hands. This amount has increased by several hundred tonnes in the previous three years. The survey found that 93 percent of Germans are satisfied with their gold investment. More than three-quarters of respondents planned to buy more gold.

According to official figures, Germany’s central bank holds more than 3,300 tonnes of gold – second only to the US. More than 70 percent of the central bank’s strategic reserves are gold.