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
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