- Gold is a popular asset that investors buy for its physical value.
- Investors can choose from gold bullion or gold ETFs.
- Gold bullion is typically gold in its raw form, while gold ETFs are securities that track the price of gold.
- Gold bullion is subject to the vagaries of the gold market, but gold ETFs do not.
- Gold ETFs are traded on major exchanges, and their prices should be liquid.
Gold is one of the world’s most sought-after precious metals and is largely used for jewelry, investment, and decoration. While the metal is sought after for use in industry, it is largely valued for the precious metal it contains.
There are approximately 187,000 metric tons of gold in the world, worth approximately $8.3 trillion on Aug. 31, 2022, according to the International Monetary Fund (IMF). According to the World Gold Council, 68% of the world’s gold is held in the vaults of central banks, 28% in the private sector, and only 4% in exchange-traded funds (ETFs).
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China
China’s gold reserves are 1,842 metric tons and are 6% of the standard quota. The People’s Bank of China is the world’s largest gold investor and accounts for 60% of the global gold market. China has been taking measures to increase its gold reserves, including buying 10 tons of gold annually from the International Monetary Fund (IMF) and countries which sell gold reserves. In 2016, China increased its gold reserves by 28%, reaching 1,842 metric tons and surpassing India as the world’s largest holder.
India
India’s gold reserves are 557 metric tons and account for 2%. The Reserve Bank of India purchased 200 tons in 2017. India’s central bank holds gold reserves as part of a reserve fund, which it uses to purchase foreign currency.
Russia
Russia’s gold reserves are 1,777 metric tons and are 5%. The country’s central bank has held gold reserves since 1999. In 2016, Russia increased its gold reserves by 38%, bringing its total reserves to 1,777 metric tons.
Germany
Germany’s gold reserves are 3,381 metric tons and account for 13%. The Bundesbank has been increasing its gold reserves since 2010. In 2018, Germany purchased 300 tons, bringing its total reserves to 3,381 metric tons.
U.S.
The U.S.’ gold reserves are 8,133 metric tons and account for 72%. As the U.S. is the largest economy in the world, its central bank holds the fourth largest gold reserves in the world. The U.S.’ central bank purchases gold bars and coins from private funds.
Russia
Gold holdings: 2,264.1 tons
Russia, just like China, is the world’s largest gold producer with 10% of the world’s gold reserves. According to December 2017, Russia’s gold reserves were 224,532.5 tons. Its gold production for 2017 was 266.8 tons.
China
Gold holdings: 1,842.7 tons
China’s gold reserves were 1,842.7 tons in December 2017, 43% of the world’s total. Its gold production for 2017 was 304 tons.
United States
Gold holdings: 8,133.8 tons
The U.S. held 8,133.8 tons of gold in December 2017, 261.5 tons or 5.5% of the world’s total.
Germany
Gold holdings: 3,381.4 tons
Germany is the world’s third-largest holder of gold reserves. In December 2017, it held 3,381.4 tons, 16.9% of the world’s total. Its gold production for 2017 was 125.4 tons.
India
Gold holdings: 2,814.4 tons
India’s gold reserves were 2,814.4 tons in December 2017, 10.5% of the world’s total. Its gold production for 2017 was 295.6 tons.
Iran
Gold holdings: 2,756.5 tons
Iran’s gold reserves were 2,756.5 tons in December 2017, 9.9% of the world’s total. Its gold production for 2017 was 50 tons.
Italy
Gold holdings: 2,541.4 tons
Italy is the world’s fourth-largest holder of gold reserves. In December 2017, it held 2,541.4 tons, 14% of the world’s total. Its gold production for 2017 was 108.8 tons.
France
Gold holdings: 2,367.2 tons
France’s gold reserves were 2,367.2 tons in December 2017, 12.5% of the world’s total. Its gold production for 2017 was 123.4 tons.
Japan
Gold holdings: 2,005.3 tons
Japan is the world’s fifth-largest holder of gold reserves. In December 2017, it held 2,005.3 tons, 10.8% of the world
United States
On Nov. 23, 2017, the United States reported 8,133.2 metric tons of gold reserves held at Fort Knox and the New York Federal Reserve.
China
On April 30, 2020, China reported 1,582.4 metric tons of gold reserves held in China.
Germany
On Nov. 14, 2019, Germany reported 3,451.4 metric tons of gold reserves held in Germany.
Italy
On Nov. 15, 2019, Italy reported 2,451.6 metric tons of gold reserves held in Italy.
France
On Nov. 21, 2019, France reported 2,442.6 metric tons of gold reserves held in France.
Switzerland
On Nov. 21, 2019, Switzerland reported 1,040.2 metric tons of gold reserves held in Switzerland.
Hong Kong
On Nov. 22, 2019, Hong Kong reported 3,498.5 metric tons of gold reserves held in Hong Kong.
Netherlands
On Nov. 22, 2019, the Netherlands reported 2,342.5 metric tons of gold reserves held in the Netherlands.
India
Gold Reserves: 557.6 tons
Gold Reserves Per Capita: 9.8 troy ounces
Gold Reserves Per Capita Ranking: 1
Gold Reserves Per Capita Change Year-Over-Year: 17.9%
Gold Reserves Change Year-Over-Year: 6.9%
India’s gold reserves are the second-highest in the world. The country, which is the world’s second-most-populous country behind China, has been stockpiling gold since 2000. India’s gold reserves more than quadrupled from 1990 to 2000.
Venezuela
Gold Reserve: 14.9 million troy ounces
Central Bank Gold Holdings: 14.9 million troy ounces
Central Bank Gold Reserves to GDP: 0.2%
Top Gold Buyer in 2018: Hong Kong
Venezuela’s gold reserves are held by the Central Bank of Venezuela. The Bank’s gold holdings are 68.7% of Venezuela’s total foreign reserves.