New Delhi. Amidst the recent rise in gold prices, it is interesting to know how much gold reserves the countries of the world have and where India stands in the list. The main purpose of central banks holding gold reserves is to maintain confidence in their economy and currency, especially when financial uncertainty increases.
Top 10 countries with gold reserves in the world
According to recent data, the 10 countries with the largest gold reserves in the world are:
1.United States of America: It holds the world’s largest reserves of gold, with approximately 8,133.5 tonnes.
2.Germany: It has gold reserves of 3,350.3 tonnes.
3.Italy: It is in third place with 2,451.8 tonnes of gold.
4.France: France has about 2,437 tonnes of gold reserves.
5. Russia: Russia has increased its reserves in recent years from 2,330 to 2,333 tonnes.
6.China: China holds 2,279.6 tonnes of gold according to official figures.
7.Switzerland: This small country also has significant gold reserves of 1,040 tonnes.
8.India: India’s reserves range between 880 to 888 tonnes and are ranked eighth.
9.Japan: Japan has gold reserves of 846 tons.
10.Turkey: Turkey has about 612.5 to 623.9 tonnes of gold.
Why is gold reserves necessary?
Countries hold gold reserves through their central banks. Its purpose is to maintain confidence in the currency and the economy in times of financial instability. Gold assets are not only considered safe for investment, but it also indicates economic stability with foreign exchange reserves.
India’s position regarding gold
India has about 879 tonnes of gold reserves. This reserve gives it an important position on the global economic stage. India has increased its reserves over the past few years, thereby strengthening financial security and investment opportunities.
Comments are closed.