Top 10 Countries with the Largest Gold Reserves in the World

France is a country located mainly in Western Europe, with several overseas regions and territories. Its European territory stretches from the Mediterranean Sea to the English Channel and the North Sea, from the Rhine River to the Atlantic Ocean. France also includes French Guiana in South America and several islands in the Atlantic, Pacific, and Indian Oceans.

France's 18 regions, including metropolitan France, French Guiana, Guadeloupe, Martinique, Reunion, and Mayotte, cover a total area of 643,801 km², with a population of about 67 million as of 2019. Including other territories outside of Antarctica, the total area is approximately 674,000 km². France is a semi-presidential republic, with Paris as the capital and largest city, which is also the country's cultural and commercial hub. Other major urban centers include Marseille, Lyon, Lille, Nice, Toulouse, and Bordeaux.

In the Iron Age, the area now known as France was inhabited by the Celtic Gauls. The Romans annexed the region in 51 BC, and it remained under Roman control until 486, when the Frankish tribes conquered it and established the Kingdom of France.

France rose to become a major power in Europe during the late Middle Ages, achieving victory in the Hundred Years' War (1337-1453), which helped consolidate the nation and centralize its politics. During the Renaissance, French culture flourished, and it established a global colonial empire, becoming the second-largest empire in the world in the 20th century.

In the 16th century, France was embroiled in religious civil wars between Roman Catholics and Huguenots. France emerged as a dominant cultural, political, and military power in Europe under King Louis XIV. By the late 18th century, the French Revolution overthrew the absolute monarchy, leading to the establishment of one of the earliest republics in modern history. The Declaration of the Rights of Man and of the Citizen became the foundation of the revolution and remains a symbol of French ideology today.

Today, the central bank of France, Banque de France, holds 2,436.35 tons of gold reserves. This gold is stored in a vault called La Souterraine, located 27 meters underground in France. The gold reserves of France represent 4% of the country's GDP, with an average of 38 grams of gold per person in the nation.

Russia is a federal republic composed of 85 federal entities. It shares borders with several countries (from northwest to southeast): Norway, Finland, Estonia, Latvia, Lithuania, and Poland (via Kaliningrad Oblast), Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia, and North Korea. It also has maritime borders with Japan (via the Sea of Okhotsk), Turkey (via the Black Sea), and the United States (via the Bering Strait).

With an area of 17,098,246 km² (6,601,670 mi²), Russia is the largest country in the world, covering a significant portion of Earth's landmass. It is also the ninth-most populous country, with a population of 144.5 million (as of 2015). Russia spans all of northern Asia and 40% of Europe, covering 11 time zones and a wide variety of environments and landscapes.

Russia holds the world's largest reserves of minerals and energy and is considered a global energy superpower. It also has the largest forest area in the world, and its lakes hold about 25% of the planet's fresh water that is not frozen.

Russia has exerted power and influence globally since the time of the Russian Empire. During the Soviet Union era, the first socialist state, the USSR was recognized as one of the two superpowers alongside the United States and played a major role in the Allied victory in World War II. The Russian Federation was formed after the collapse of the Soviet Union in 1991 and is legally recognized as the successor state of the USSR.

The Central Bank of Russia holds 2,298.53 tons of gold reserves, all stored within the country. Two-thirds of the gold is stored in vaults in Moscow, with the remainder in Saint Petersburg. The gold is kept in the form of gold bars, most weighing between 10-14 kg each, with some smaller bars weighing less than 1 kg. As the third-largest gold producer globally, Russia has been consistently buying gold since 2007, particularly accelerating purchases between 2015 and early this year. The purchase of gold reserves was briefly interrupted in 2020 due to the negative impact of the COVID-19 pandemic on Russia's oil industry—the country's primary source of foreign currency. In early April 2020, the Central Bank of Russia temporarily stopped buying gold from the domestic market, but this pause lasted only six days. The bank resumed its gold purchases shortly thereafter.

China is a sovereign state located in East Asia. It is the most populous country in the world, with a population exceeding 1.405 billion people. China is a one-party state governed by the Communist Party of China, with its central government based in the capital, Beijing.

The Chinese government exercises jurisdiction over 22 provinces, 5 autonomous regions, 4 direct-controlled municipalities, and 2 special administrative regions, namely Hong Kong and Macau. China also claims sovereignty over all territories administered by the Republic of China (Taiwan), unilaterally declaring Taiwan as its 23rd province, a controversial stance that contributes to the complex geopolitical situation regarding Taiwan.

With an area of 9,596,961 km², China is the fourth-largest country by land area and the third or fourth largest by total area, depending on the measurement method. The country's diverse landscapes range from dry northern deserts like the Gobi and Taklamakan to the more humid subtropical forests in the south.

The Himalayas, Karakoram, Pamir, and Tianshan mountain ranges form China's natural boundaries with South and Central Asia. The Yangtze and Yellow Rivers, the third and sixth-longest in the world, originate from the Tibetan Plateau and flow eastward to China's densely populated coastal regions. China's coastline along the Pacific Ocean stretches for 14,500 km, bordered by the Bohai Sea, Yellow Sea, East China Sea, and South China Sea.

The People's Bank of China (PBoC) currently holds 1,948.31 tons of gold reserves, mainly acquired since 2000. In 2001, PBoC had just 400 tons of gold, and in under two decades, its reserves grew by nearly 390%. The PBoC has also issued gold coins featuring the image of a panda since 1982. The Chinese panda coin is now among the top five gold coins issued by central banks, alongside the American Eagle, Canadian Maple Leaf, South African Krugerrand, and Australian Gold Nugget.

Switzerland, officially the Swiss Confederation, is a federal republic located in Europe. The country consists of 26 cantons, with the federal government based in the city of Bern. Situated in Central and Western Europe, Switzerland shares borders with Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland is landlocked, with a total area of 41,285 km², and its geography is defined by the Alps mountain range, the Swiss Plateau, and the Jura mountains.

While the Alps occupy much of the country's territory, the majority of Switzerland’s 8 million inhabitants live in the Plateau region. The largest cities, including global economic hubs like Zurich and Geneva, are located in this region.

After years of criticism over the lack of transparency in managing its national gold reserves, the Swiss National Bank (SNB) initiated the Swiss Gold Initiative in 2011. The initiative culminated in a 2014 referendum, asking the public to vote on three proposals.

The first proposal suggested that all national gold reserves should be kept within Switzerland. The other two proposals were related to the ability of the SNB to sell its gold reserves and to a mandate that 20% of SNB assets be in gold.

Although the referendum did not pass, it forced the SNB to be more transparent about its gold reserves. In a 2013 report, the SNB revealed that 70% of the country’s gold reserves were stored within Switzerland, 20% at the Bank of England, and 10% at the Bank of Canada. Switzerland's total gold reserves stand at 1,040 tons.

Japan is an archipelago made up of about 6,852 islands, predominantly located in a temperate zone with four distinct seasons, although its climate varies along the length of the country. The five main islands are Honshu, Hokkaido, Kyushu, Shikoku, and Okinawa, which together account for about 97% of Japan's land area. However, much of the land is mountainous and forested, with very limited mineral resources.

The country is divided into 47 prefectures across 8 geographic regions. Japan has a population of approximately 126 million people, making it the 11th most populous country in the world and the second most populous island nation. The population is concentrated mainly in narrow coastal plains, with ethnic Japanese people making up around 98.1% of the population.

Nearly 20 million people live in the Tokyo metropolitan area, which serves as the unofficial capital of Japan. The Tokyo metropolitan area, including the capital and several surrounding cities, forms the world’s largest urban agglomeration with over 35 million people, and has the highest urbanized economy on the planet. The majority of Japanese people follow the indigenous Shinto religion, often combined with the imported practice of Buddhism.

Information on Japan's gold reserves is sparse. In the year 2000, the country held around 753 tons of gold. As of now, this reserve has increased to 845.97 tons.

India is the seventh largest country in the world by land area and the most populous country on Earth, with over 1.41 billion people as of today. It is bordered by the Indian Ocean to the south, the Arabian Sea to the southwest, and the Bay of Bengal to the southeast. Land borders include Pakistan to the west, China, Nepal, and Bhutan to the northeast, and Myanmar and Bangladesh to the east. India shares maritime borders in the Indian Ocean with Sri Lanka and the Maldives, and its Andaman and Nicobar Islands have sea borders with Thailand and Indonesia. India's diverse geography, shaped by its unique position and proximity to various nations, makes it a key player in international trade routes.

India boasts a rich cultural history spanning over 4,500 years, with a profound foundation in philosophy, mythology, and literature. The country is also religiously diverse, with major faiths including Hinduism, Sikhism, Islam, Christianity, and Jainism.

According to the International Monetary Fund, India's nominal GDP in 2017 was $2.611 trillion, ranking 6th globally and 3rd in Asia behind China and Japan. India's GDP in terms of purchasing power parity reached $9.446 trillion. Over the past two decades, India's economy has grown at an average annual rate of 5.8%, and between 2012 and 2017, it expanded at around 7%, becoming one of the fastest-growing economies in the world.

India's gold reserves have increased by approximately 150 tons in recent years. Despite the global trend of selling gold during the COVID-19 pandemic, India significantly boosted its gold purchases in early 2021, expanding its gold reserves, which now stand at 743.83 tons.

Netherlands is the primary constituent country of the Kingdom of the Netherlands, which also includes three Caribbean territories. The country is known for its low and flat terrain, with about 50% of its land area situated more than 1 meter below sea level. Much of this land has been reclaimed from the sea.

With a rich cultural history, the Netherlands is home to many world-renowned artists, scientists, and architects, including legends like Rembrandt van Rijn, Johannes Vermeer, Jan Steen, and Jacob van Ruisdael. When people think of the Netherlands, they often imagine the iconic windmills, vibrant tulip fields, and other elements that represent the nation's cultural heritage.

Beyond its cultural achievements, the Netherlands is also known for its strong economy, which has played a central role in Europe's economic history for centuries. Key sectors driving the Dutch economy include shipbuilding, fishing, agriculture, trade, and banking. The Netherlands boasts a high degree of economic freedom, ranking second in the 2016 Global Trade Enabling Report, and fifth in global competitiveness according to the 2017 World Competitiveness Yearbook. The country also ranked third in the 2017 Global Innovation Index (GII).

Additionally, the Netherlands holds the 10th spot in the global gold reserves ranking, with 612.45 tons of gold in its vaults. In October 2019, the Dutch central bank transported 14,000 gold bars, weighing a total of 175 tons, to the DNB cash center in Zeist. The shipment was valued at approximately 10 billion euros, equivalent to 12 billion USD, along with foreign currency holdings worth about 4.5 billion euros (5.4 billion USD). Given its economic prowess, it is no surprise that the Netherlands ranks among the world's top gold reserve holders.

United States is a federal constitutional republic consisting of 50 states and one federal district. Located almost entirely in the Western Hemisphere, the country is bordered by the Pacific Ocean to the west, the Atlantic Ocean to the east, Canada to the north, and Mexico to the south. The capital city is Washington, D.C., and the largest city is New York.

The state of Alaska, located in the northwestern part of North America, borders Canada to the east and Russia to the west across the Bering Strait. The state of Hawaii is situated in the central Pacific Ocean. The U.S. also possesses 14 territories scattered throughout the Caribbean and the Pacific Ocean.

The Federal Reserve, the central bank of the United States, holds the largest national gold reserve in the world, totaling 8,133.47 tons as of 2022. The majority of this gold is stored in deep vaults located in Denver, Fort Knox, and West Point.

According to the U.S. Department of the Treasury, the gold stored in these vaults is kept in sealed vaults that are inspected annually by the Treasury. Most of it consists of gold bars, while the remaining reserves are used by the U.S. Mint to produce gold coins as authorized by Congress. This includes gold bars, coin blanks, and gold coins.

Germany is a federal parliamentary republic located in Central Europe. Comprising 16 states, it covers an area of 357,021 square kilometers and has a largely temperate seasonal climate. With a population of over 83 million, it is the most populous member of the European Union. Germany ranks as the second most popular destination for immigrants worldwide, after the United States, according to 2014 data. The capital and largest metropolitan area is Berlin, with other major cities including Hamburg, Munich, Cologne, Frankfurt, Stuttgart, and Düsseldorf.

Various Germanic tribes inhabited the northern regions of modern-day Germany since classical times. A region called Germania was documented as early as 100 BC. During the Migration Period, these tribes expanded southward. From the 10th century, German territories became the central part of the Holy Roman Empire. By the 16th century, northern Germany became a center for the Protestant Reformation.

The central bank of Germany, Bundesbank, held 3,359.09 tons of gold in 2022, less than half of the U.S. gold reserves. Like many central banks, Germany stores about half of its gold reserves abroad, including in New York, London, and France.

In 2012, concerns were raised over Germany's gold reserves abroad, with the Bundesrechnungshof, Germany's federal audit office, publicly criticizing the auditing process. In response, Bundesbank assured that the security of its foreign gold reserves was adequate. Subsequently, the bank began repatriating gold, bringing back over 583 tons by 2016.

Italy is a unitary parliamentary republic located in Southern Europe. Its territory extends into the central Mediterranean, with its two largest islands, Sicily and Sardinia. The Alps form the northern border of Italy, which creates land borders with France, Switzerland, Austria, and Slovenia. The independent republics of San Marino and Vatican City are also located within its borders. Italy covers an area of 301,338 square kilometers, with a mostly temperate and Mediterranean climate.

Due to its shape, Italy is often referred to as 'Lo Stivale' (the boot). With a population of approximately 60 million, it is the third most populous country in the European Union. The capital of Italy is Rome, with other large metropolitan areas including Milan, Naples, and Turin. In the 1st century BC, the Roman Empire rose to power, dominating the Mediterranean basin and becoming the cultural, political, and religious center of the Western world during antiquity. The legacy of the empire is evident in global civil law, republican government, Christianity, and the Latin alphabet.

The central bank of Italy, Banca d’Italia, began its gold reserves in 1893, following the merger of three financial institutions. Italy’s gold reserves have grown significantly since then, increasing from 78 tons in 1893 to 2,451.84 tons today.