Gold reserves of any country are external highly liquid assets presented in the form of gold.
They are under the control of the state monetary authorities and can be used at any time to finance the deficit of the payment balance, etc. We suggest you familiarize yourself with the top countries with the biggest reserves of this precious metal.
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USA
The US gold reserve was formed during the Great Depression. One of the causes of the crisis was the fact that the value of the currency was rigidly pegged to gold, and the state was experiencing a serious shortage of money supply. The task of unraveling the tangle of economic problems fell on the shoulders of Franklin Roosevelt.
The gold reserve is 8133.5 tons. The share of gold reserves is 74.5%. The USA is the leader in terms of the world`s gold reserves. Up to half of the US gold stock is stored in the former military base of Fort Knox. Part of them was placed in the vault of the Mint on the territory of the city of West Point and in the FRB.
Germany
This is the record holder for gold reserves in Europe. The gold reserve is 3367.9 tons. The share of gold reserves is 70%. Previously, a considerable part of the German gold reserves was stored in the banks of New York, London, and Paris. In 2013, Germany began to return its gold. By 2017, the country returned over 50.6% of German gold to the Bundesbank.
The FRB of New York keeps 36.6% of Germany's gold reserve, while the Bank of England stores almost 13%.
Italy
The gold reserve is 2451.8 tons. The share of gold reserves is 65.4%. Italian gold is stored mainly in bullion. In total, there are 95,490 pieces weighing from 4.2 to 19.7 kg. The gold reserve of the Bank of Italy also includes 4.1 tons of gold coins.
The underground vault at the Palazzo Cox in Rome keeps 44.9% of the bullion and coins. The rest of Italy's reserves are currently kept in New York (43.3%) and the Bern vault in Switzerland (6.1%). Additionally, the Bank of England vault stores 8.8%.
France
The gold reserve is 2436 tons. The real share of gold reserves is 59.9%. The gold is kept in the vault of the bank Banque de France in Paris. Gold is stored in bars on pallets, in boxes, and in cabinets. France's official gold reserve is located in Paris.
China
The gold reserve is 1916.3 tons. The share of gold reserves is 2.5%. It is believed that all Chinese gold is stored in Beijing. However, nobody still knows whether it is true or not. China's gold reserve has nearly quintupled since the early 2000s, rising from around 400 tons in 2001 to over 1,900 tons by mid-2021, making China the world's largest gold producer.