World Gold Council Report

By GovernanceToday
In Banking & Finance
March 13, 2019
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The World Gold Council its latest report highlights the quantum of gold holding by the different countries. The findings of the report are.

India has the 11th largest gold reserve and the current holding pegged at 607 tones

India’s would have been at the tenth position had the list included only countries. International Monetary Fund (IMF) ranks third on the list with total gold reserves of 2,814 tones

The top spot is occupied by US  gold reserves of 8,133.5 tones, followed by Germany with 3,369.7 tones.

The third and fourth slot is occupied by Germany and France with reserves of around 2,400 tones each.

China and Japan have more reserves of the precious metal when compared to India. Mainland China has gold reserves of 1,864.3 tones and Japan has gold reserves of 765.2 tones

The report notes that Gross purchases of 48 tones and gross sales of 13 tones led to an increase in global gold reserves by 35 tones on a net basis in January, with sizeable increases from nine central banks.

This was the largest January increase in gold reserves since 2002 and illustrates the recent strength in gold accumulation.

The World Gold Council is the market development organisation for the gold industry and it aims to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market.

Rank                                   Possessor              Tones

1                                        US                        8133.5

2                                        Germany               3369.7

3                                        IMF                       2814.0

4                                        Italy                     2451.8

5                                        France                  2436.0

6                                        Russia                   2119.2

7                                        Mainland China  1864.3

8                                        Switzerland           1040.0

9                                        Japan                    0765.2

10                                      Netherland            0612.5

11                                      India                      0607.0

12                                      ECB                      0504.8

13                                      Taiwan                  0423.6

14                                      Portugal                0382.5

15                                      Kazakhstan            0353.3

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