Discover the countries with largest gold reserves

  • The countries with the largest gold reserves are the U.S., Germany, Italy, and France.
  • Gold is a precious metal that central banks, investors, and individuals alike rely on as a hedge against inflation.
  • Gold is regarded as a safe haven asset, and central banks around the world hold large gold reserves as a reserve currency.

The gold market is one of the most stable in the world. In fact, gold has been a stable store of value since ancient times.
Investors and central banks alike buy gold not only for its intrinsic value, but also as a hedge against inflation and geopolitical instability.
The Bank of International Settlements (BIS), in its annual report, "Global Economic Aggregates: Broad Balance Sheets and International Capital Flows," reports that as of July 2017, there were 31,598.8 metric tonnes of gold (t) held in reserve worldwide. Of the 31,598.8 t of gold in reserve, 21,700 t are held by central banks, 11,200 t are held as backing for currency, and 2,900 t are held in the form of jewelry and coins.
The chart below shows the countries with largest gold reserves (as of January 2020) in the world:


China's gold reserves have been steadily rising over the past decade, reaching 1,864.3 metric tons in 2020, according to the International Monetary Fund (IMF). Its gold reserves are second only to those of the United States, which hold 8,133.9 metric tons of gold.
The United States
The United States holds the largest gold reserves in the world, accounting for about 70% of all official gold reserves held by the 187 countries that are members of the IMF. As of January 2020, the U.S. has 8,133.9 tons of gold.
Germany's gold reserves are relatively small compared to other countries, amounting to only 3.4% of GDP as of 2020. However, the country has been steadily increasing its gold reserves in recent years, making it the second-leading gold reserve-holder in Europe.
Russia's gold reserves are relatively small compared with those of gold-rich nations like the United States or China. As of 2020, Russia has gold reserves of 1,165.1 tons. However, the country's gold reserves have consistently increased over the past 10 years, including by 11.4% in 2020.

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Russia's central bank has a staggering 2,216 tons of gold in its reserves, making its top spot in the world. This accounts for approximately 17% of the world's gold reserves.
China's central bank has 1,054 tons of gold in its reserves, making it the second largest holder of gold reserves in the world.
The United States
The United States has 261 tons of gold in its reserves.
Germany has 147 tons of gold in its reserves.

countries with largest gold reserves


Gold reserves: 557.5 tons

India is the largest importer of gold in the world, and the country's reserves grew by 6.3% in 2018. India's gold reserves are second only to those of the United States.
Gold reserves: 1,843.5 tons

China's gold reserves grew by 9.9% in 2018.
Gold reserves: 1,450.7 tons

Russia has the largest gold reserves among the BRIC (Brazil, Russia, India, and China) countries.


In 2016, Japan had the largest gold reserves in the world. The country held 8,133.5 tons of gold, or 42.2% of the world's total.
Since 2011, Switzerland has maintained the second position among gold holders. The country holds 1,040 tons of gold, or 8.2% of the world's total.
Since 2011, China has been one of the largest gold holders in the world. The country holds 1,054.5 tons of gold, or 8.3% of the world's total.

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Switzerland is famous for its banking secrecy and sheer wealth of billionaires. It is no surprise, therefore, that Switzerland is the world's second largest holder of gold reserves. As of 2022, the Switzerland's central bank holds 1,046.5 tons of gold, or 7.4% of the stockpile.
Russia's 2018 gold reserves stood at 2,439 tons, making it the world's third largest holder of gold. Russia is the world's largest producer of gold, and it holds the world's largest gold reserve thanks to its production of 557.4 tons of gold in 2017.
Italy's central bank holds 2,451.3 tons of gold as of 2020. The Italian government has been vocal about its desire for gold, and the country plans to increase its gold holdings to 2,500 tons by 2020.
China's gold holdings are estimated at 1,842 tons as of 2020. The country has a massive gold reserve of 1,842 tons, which accounts for 19.9% of the world's total gold holdings. China has been buying gold on a regular basis, and in 2019 alone, the country bought 1,054 tons of gold.