…The top 10 central banks with the largest gold reserves have remained mostly unchanged for the last few years. Below are the top 10 countries with the largest gold holdings. The original article by Frank Holmes has been edited here for length (…) and clarity ([ ]) by munKNEE.com to provide a fast & easy readBeginning in 2010, central banks around the world turned from being net sellers of gold to net buyers of gold…Gross official sector sales declined by 55% last year, to the lowest since 2014, indicating that central banks are happy to keep their reserves in gold, historically viewed as a safe-haven asset. 
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2018 could be another strong year for central bank gold demand. According to the World Gold Council (WGC), demand in the first quarter was up 42% year-over-year, with purchases totaling 116.5 tonnes for the highest first quarter total since 2014… Below are the top 10 countries with the largest gold holdings…: #10. India (Tonnes: 560.3; Percent of foreign reserves: 5.5%)… #9. Netherlands (Tonnes: 612.5; Percent of foreign reserves: 68.2%)… #8. Japan (Tonnes: 765.2; Percent of foreign reserves: 2.5%)… #7. Switzerland (Tonnes: 1,040.0; Percent of foreign reserves: 5.3%)… #6. China (Tonnes: 1,842.6; Percent of foreign reserves: 2.4%)… #5. Russia (Tonnes: 1,909.8; Percent of foreign reserves: 17.6%)… #4. France (Tonnes: 2,436.0; Percent of foreign reserves: 63.9%)… #3. Italy (Tonnes: 2,451.8; Percent of foreign reserves: 67.9%)… #2. Germany (Tonnes: 3,371.0; Percent of foreign reserves: 70.6%)… #1. United States of America (Tonnes: 8,133.5; Percent of foreign reserves: 75.2%)… With the largest official holdings in the world, the U.S. lays claim to nearly as much gold as the next three countries combined. It also has the highest gold allocation as a percentage of its foreign reserves at over 75%. From what we know, the majority of U.S. gold is held at Fort Knox in Kentucky, with the remainder held at the Philadelphia Mint, Denver Mint, San Francisco Assay Office and West Point Bullion Depository. Conclusion As global debt continues to skyrocket, central banks and individual investors alike might want to keep gold in their pockets, as it historically has performed well during times of economic downturn and geopolitical uncertainty. Scroll to very bottom of page & add your comments on this article. We want to share what you have to say! Related Article from the munKNEE Vault: How Much Gold Is Mined Each Year & What Countries Produce the Most? How much gold is the world digging up each year and what countries produce the most? Read on! The post The 10 Countries With the Largest Gold Reserves appeared first on munKNEE.com. |
