Everyone loves Gold and is always concerned as a sign of good economic growth. Countries with the highest gold reserves are also the wealthiest countries in the world.
Securing your wealth into something that is precious and always evergreen is essential. There could be many ways of investing and ensuring one’s money simultaneously, for example, Property, Gold, Businesses, etc.
Investing in Gold is the most sustainable and safe way to secure your hard-earned money. The reason is apparent: Gold is a costly and precious metal. It helps countries cope with complex economic challenges.
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But the world’s central Bank also has a massive amount of Gold. The central Bank of each country holds all the valuables of the country.
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The U.S. has a Bullion depository called ‘Fort Knox.’ It has a vault, and its building is next to the army headquarters of the U.S. The country’s valuables are placed in that building and are under the control of the Army.
The country has the most gold reserves, making up 8,133.5 tons, and 76% of Gold is present in the reasonable foreign reserves. It is helping the U.S. maintain the most sustainable economy.
Germany holds the second position in having the most gold reserves. All the gold reserves of Germany are present at Deutsche Bundesbank in Frankfurt am Main, the Bank of England in London, and the New York branch of the Federal Reserve Bank of the United States.
Gold accounts for 3,378.2 tons, and 70% of Gold is in foreign exchange.
Italy is also well known worldwide for its gold reserves. Italy’s reserves are entirely under the control of the Bank of Italy.
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After the U.S. Federal Reserve, the Deutsche Bundesbank, and the International Monetary Fund, the Bank of Italy holds the world’s fourth-largest gold reserves.
Italy has 2,451.8 tons of Gold. Italy’s foreign gold reserves are 69%.
In the past few years, France has wholly terminated its hold sale. Under President Emmanuel Macron’s orders, France is no longer selling its Gold, helping the country stand out in having the most gold reserves and preparing itself for dire economic challenges.
France is 4th with reserves of 2,435.8 tons, and the percentage of foreign reserves in Gold is 65%.
First time in 2015, China started purchasing Gold. After some time, when the renminbi joined the dollar, euro, yen, and pound as one of the International Monetary Fund currencies, it was evident that China had accumulated its gold reserves.
With world-class economic countries development, China now holds the 5th position in the highest gold reserves.
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In total, they have 1,823 tons of Gold. However, the foreign reserves in Gold are only 2%. Due to this, we can expect a heavy buying of Gold from China, but the world is not ready to make an Asian country into an upcoming superpower.
In 2022, It has been challenging for Russia to top up its gold reserves as the U.S. is targeting its massive gold reserves to sanction Russia and Ukraine conflict.
The London Bullion Market association canceled almost six gold refineries in Russia from its good delivery list. Besides, Russia still has 1498 tons of gold reserves and 16% foreign reserves.
Switzerland has the world’s largest gold reserves per capita. Domestically, it is highly confidential where Switzerland keeps its massive gold reserves, but netizens think that the Gold is with the Swiss Bank and held in Bank of Bundesplatz 1 in the capital Berne.
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The Swiss Bank took advantage of its neutrality in World War II by purchasing a considerable amount of Gold from allied and axis powers. Switzerland has 1040 tons of gold reserves, with foreign gold reserves at 7%.
The atomic blast utterly defeated Japan in World War II. The people of Japan didn’t give up and continued to work from scratch and make products with the cheapest materials.
They had a strong faith in themselves and didn’t import anything, making their production of each and everything.
As a result of their hard work and dedication, Japan now stands as one of the best Economies making it number three among the world’s most significant economies.
And now Japan comes on number eight with almost 765.2 tons of gold reserves and 3% foreign reserves in Gold.
India has a strong economy because its people make up approximately a population of 1.25 Billion. One of the world’s largest populated countries.
India holds an excellent industrial market.
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From Pharmaceutics to software and textiles, India is one of the best industrialists in the world. Such solid economic growth puts India on the list of enormous gold reserves, with a total of 686 tons, and 6.5 % of Gold is present in foreign reserves.
The Netherlands also has significant numbers of gold reserves. The dutch keep only a small amount of Gold in their country, and the rest is kept in the U.S. and other countries.
It comes tenth with approximately 612.5 tons of gold reserves and 67.4% in foreign reserves.
To conclude, having a good economy helps the country secure its people’s hard-earned money by accumulating money in industries or buying one of the most cherished and precious metals, Gold.
It helps a country defend its people from hardship or trouble, stand out in the world’s sustainable economies, etc.
Every country with a good economy can help its people by providing them with quality education and healthcare, which are necessities for all.