โAs of early 2025, the global landscape of gold reserves has seen notable shifts, with central banks actively adjusting their holdings in response to economic uncertainties and geopolitical dynamics. Here’s an updated overview of the top 50 gold-holding countries, incorporating the most recent data available:โ
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๐ Top 50 Countries by Gold Reserves (as of February 2025)
Rank | Country | Gold Reserves (Metric Tons) | Estimated Value (USD) | Notes |
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1 | ๐บ๐ธ United States | 8,133.5 | ~$865.84B | Largest holder; reserves unchanged. |
2 | ๐ฉ๐ช Germany | 3,351.5 | ~$356.78B | Significant portion repatriated. |
3 | ๐ฎ๐น Italy | 2,451.8 | ~$260.95B | Maintains strong reserves within Eurozone. |
4 | ๐ซ๐ท France | 2,437.0 | ~$259.37B | Key Eurozone player with substantial holdings. |
5 | ๐ท๐บ Russia | 2,332.7 | ~$248.63B | Increased reserves amid sanctions. |
6 | ๐จ๐ณ China | 2,279.6 | ~$242.66B | Resumed purchases after a pause. |
7 | ๐จ๐ญ Switzerland | 1,039.9 | ~$110.72B | Known for financial stability. |
8 | ๐ฎ๐ณ India | 876.1 | ~$93.24B | Second-largest buyer in 2024. |
9 | ๐ฏ๐ต Japan | 845.9 | ~$90.03B | Holds reserves to support the yen. |
10 | ๐ต๐ฑ Poland | 765.0 | ~$81.43B | Largest buyer in 2024. |
11 | ๐ณ๐ฑ Netherlands | 612.4 | ~$65.18B | Stable holdings within Eurozone. |
12 | ๐น๐ท Turkey | 595.4 | ~$63.40B | Active in managing reserves. |
13 | ๐น๐ผ Taiwan | 422.4 | ~$44.92B | Supports economic resilience. |
14 | ๐ต๐น Portugal | 382.6 | ~$40.72B | Legacy of historical wealth. |
15 | ๐บ๐ฟ Uzbekistan | 382.5 | ~$40.71B | Increased reserves in 2024. |
16 | ๐ธ๐ฆ Saudi Arabia | 355.4 | ~$37.85B | Complements oil wealth. |
17 | ๐ฐ๐ฟ Kazakhstan | 323.1 | ~$34.38B | Returned to net buyer status. |
18 | ๐ฌ๐ง United Kingdom | 310.2 | ~$33.02B | Supports global financial role. |
19 | ๐ฑ๐ง Lebanon | 284.0 | ~$30.52B | Critical asset amid crises. |
20 | ๐ช๐ธ Spain | 281.6 | ~$29.97B | Aids Eurozone stability. |
21 | ๐ฆ๐น Austria | 279.9 | ~$29.80B | Buffer for open economy. |
22 | ๐น๐ญ Thailand | 234.5 | ~$24.95B | Supports growing economy. |
23 | ๐ง๐ช Belgium | 227.4 | ~$24.20B | Supports Eurozone role. |
24 | ๐ธ๐ฌ Singapore | 219.9 | ~$23.40B | Financial hub with strategic reserves. |
25 | ๐ฉ๐ฟ Algeria | 173.6 | ~$18.47B | Supports oil-dependent economy. |
26 | ๐ป๐ช Venezuela | 161.2 | ~$17.16B | Key asset amid economic collapse. |
27 | ๐ต๐ญ Philippines | 159.1 | ~$16.93B | Supports developing economy. |
28 | ๐ฑ๐พ Libya | 146.7 | ~$15.61B | Vital asset amid instability. |
29 | ๐ง๐ท Brazil | 129.6 | ~$13.80B | Aids large, diverse economy. |
30 | ๐ช๐ฌ Egypt | 126.5 | ~$13.46B | Counters inflation and currency issues. |
31 | ๐ฟ๐ฆ South Africa | 125.7 | ~$13.34B | Major gold producer. |
32 | ๐ฒ๐ฝ Mexico | 125.4 | ~$13.31B | Supports trade-heavy economy. |
33 | ๐ฆ๐บ Australia | 120.3 | ~$12.79B | Maintains modest reserves. |
34 | ๐ฆ๐ท Argentina | 114.5 | ~$12.19B | Hedge against economic crises. |
35 | ๐ฎ๐ถ Iraq | 110.8 | ~$11.79B | Provides stability amid challenges. |
36 | ๐ถ๐ฆ Qatar | 110.0 | ~$11.71B | Supports wealth from natural gas. |
37 | ๐ฐ๐ท South Korea | 104.4 | ~$11.12B | Complements tech-driven economy. |
38 | ๐ท๐ด Romania | 103.6 | ~$11.03B | Hedge against economic volatility. |
39 | ๐ฐ๐ผ Kuwait | 79.8 | ~$8.49B | Complements oil wealth. |
40 | ๐ฎ๐ฉ Indonesia | 79.0 | ~$8.41B | Supports resource-rich economy. |
41 | ๐ฆ๐ช United Arab Emirates | 78.6 | ~$8.37B | Reflects financial hub status. |
42 | ๐ฏ๐ด Jordan | 74.5 | ~$7.93B | Stability in a volatile region. |
43 | ๐ต๐ฐ Pakistan | 71.6 | ~$7.62B | Aids economic stability. |
44 | ๐ง๐พ Belarus | 66.5 | ~$7.08B | Supports economy amid sanctions. |
45 | ๐จ๐ฟ Czech Republic | 64.7 | ~$6.89B | Aids stable economy. |
46 | ๐ง๐ฉ Bangladesh | 61.7 | ~$6.57B | Supports growing economy. |
47 | ๐ท๐ธ Serbia | 53.8 | ~$5.73B | Aids economic stability. |
48 | ๐ฌ๐ญ Ghana | 51.1 | ~$5.44B | Increased reserves steadily. |
49 | ๐ฐ๐ฌ Kyrgyzstan | 49.0 | ~$5.22B | Highest monthly net buying since Sept 2023. |
50 | ๐ฒ๐ฆ Morocco | 48.2 | ~$5.13B | Supports developing economy. |
Note: Estimated values are calculated using the gold price of $3,311.33 per troy ounce as of April 30, 2025. One metric ton equals 32,150.75 troy ounces, so the value per ton is approximately $106,463,305.85.
Current Gold Price (USD per Ounce)
๐ Recent Trends and Notable Changes
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Poland: Emerging as the largest buyer in 2024, Poland added 90 tonnes to its reserves, reaching a total of 765 tonnes. โRising Kashmir+1World Gold Council+1
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India: With year-to-date purchases of 73 tonnes, India’s total gold reserves stood at 876 tonnes by the end of 2024, making it the second-largest buyer of the year. โThe Indian Express+3Rising Kashmir+3World Gold Council+3
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China: After a six-month pause, the People’s Bank of China resumed gold purchases in November 2024, adding 5 tonnes and bringing total holdings to 2,264 tonnes. โWorld Gold Council+1Rising Kashmir+1
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Kazakhstan: Reversed its status to a net purchaser in 2024, with total reserves now at 295 tonnes. โRising Kashmir+1World Gold Council+1
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Czech Republic: Extended its buying streak to 21 consecutive months, increasing its total holdings to just over 50 tonnes. โRising Kashmir
๐ก Significance of Gold Reserves
Gold reserves play a pivotal role in a country’s financial strategy:
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Economic Stability: Act as a hedge against inflation and currency fluctuations.โ
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Diversification: Provide diversification of reserves, reducing reliance on other assets.โRising Kashmir
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Geopolitical Security: Serve as a safeguard during geopolitical tensions and economic sanctions.โ
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Confidence: Enhance confidence in a country’s monetary system.โ