1 / 15Gold prices reached a new all-time high of ₹84,900 per 10 grams in New Delhi on January 31, driven by strong domestic demand and positive global trends, as per the All India Sarafa Association. The 99.9% pure gold continued its upward trajectory for the third consecutive session, rising by ₹1,100 to reach a fresh peak of ₹84,900 per 10 grams. Since the start of the year, the price of gold has increased by ₹5,510, or 7%, from Rs 79,390 per 10 grams. As gold prices are hitting record highs, World Gold Council’s data of countries that held the highest gold reserves as of Q2 of 2024 reveals that a select group of countries continue to dominate with the US leading the pack. These nations hold substantial reserves of the precious metal, given some uncertainties in global markets. Take a look at countries that own the most gold reserves and find out where India ranks.
2 / 15No 1. Country: United States | Gold reserves: $8.133 billion | The US holds the largest gold reserves in the world weighing 609,527.85 tonnes with a total value of $8.133 billion. The reserves are largely held in Fort Knox and other vaults across the country, which highlights its economic dominance. (Image: Reuters)
3 / 15No 2. Country: Germany | Gold reserves: $3.351 billion | Germany ranks second on the list of countries that own the highest gold reserves, which is valued at $3.351 billion and weighs 251,166.13 tonnes. Majority of the country’s gold reserves are stored at Bundesbank’s vaults in Frankfurt and various locations abroad. (Image: Reuters)
4 / 15No 3. Country: Italy | Gold reserves: $2.451 billion | Italy held reserves worth $2.451 billion weighing 183,742 tonnes. The country’s gold is mainly kept with the Bank of Italy, which highlights the country’s financial stability. (Image: Reuters)
5 / 15No 4. Country: France | Gold reserves: $2.436 billion | France has gold reserves valued at $2.436 billion, weighing 182,628.35 tonnes. Managed by Banque de France, these reserves play a key role in the country’s monetary policy. (Image: Reuters)
6 / 15No 5. Country: Russian Federation | Gold Reserves: $2.335 billion | Russia’s gold reserves are valued at $2.335.85 billion, although its total reserves are not as large as those of the leading countries. The Russian central bank has been steadily increasing its gold holdings to diversify its foreign exchange reserves. (Image: Reuters)
7 / 15No 6. Country: China | Gold reserves: $2.264 billion | With 169,689.52 tonnes of gold China possesses reserves worth $2.264 billion and as one of the largest economies in the world, China has been increasing its gold reserves to strengthen its currency and hedge against financial risks. (Image: Reuters)
8 / 15No 7. Country: Japan | Gold reserves: $845.97 million | Japan holds 63,397.87 tonnes of gold reserves valued at $845.97 million. The reserves are managed by the Bank of Japan and play an important role in the country’s economic stability.(Image: Reuters)
9 / 15No 8. Country: India | Gold reserves: $840.76 million | India’s gold reserves are valued at $840.76 million and weigh 63,007.20 tonnes. As a country with cultural affinity for gold, India maintains substantial reserves to protect its economic interests. (Image: Reuters)
10 / 15No 9. Country: The Netherlands | Gold reserves: $612.45 million | The Netherlands holds 45,897.75 toones of gold valued at $612.45 million. The Dutch central bank manages the reserves as part of a broader strategy to maintain financial stability. (Image: Shutterstock)
11 / 15No 10. Country: Turkey | Gold Reserves: $584.93 million | With 43,834.93 tonnes of gold Turkey reserves are worth $584.93 million. In recent years, Turkey has increased its gold holdings as part of its strategy to protect its economy amid global uncertainties. (Image: Shutterstock)
12 / 15No 11. Country: Portugal | Gold Reserves: $382.66 million | Portugal holds gold reserves of 28,677.06 tonnes valued at $382.66 million. The country has maintained these reserves as a financial safeguard against inflation and economic instability. (Image: Shutterstock)
13 / 15No 12. Country: Poland | Gold Reserves: $377.37 million | Poland possesses 28,280.52 tonnes of gold valued at $377.37 million. Poland has been increasing its gold reserves in recent years to diversify its foreign assets. (Image: Shutterstock)
14 / 15No 13. Country: Uzbekistan | Gold Reserves: $365.15 million | Uzbekistan holds gold reserves of 27,364 tonnes valued at $365.15 million. The country has significantly increased its gold holdings in the past decade, reflecting its growing economic influence in Central Asia. (Image: Reuters)
15 / 15No 14. Country: United Kingdom | Gold Reserves: $310.29 | The United Kingdom holds gold reserves worth $310.29 million. Despite a reduction in its gold holdings over the years, the UK’s reserves continue to be a critical part of its economic portfolio. (Image: Reuters)
