Data compiled by Finbold.com indicates that the United States holds the largest stockpile of the global Gold Reserves at 14.81% (8,965.15 tons). The data further shows that the global Gold Reserve stood at 58,710.48 tons by March 24.
The US controls 15% of all Gold Reserves worldwide, more than Germany and Italy combined
Germany has the second-highest gold reserves at 3,709.14 tons followed by the International Monetary Fund which has 3,101.53 tons in reserves. Italy is ranked fourth at 2,702.39 tons.
Interestingly, both Italy and Germany when combined have less Gold Reserves than the US. France occupies the fifth spot with Gold reserves of 2,684.98 tons.
Other countries and institutions with high reserves include Russia (2,504.21 tons), China (2,159.80 tons), Switzerland (1,146.12 tons), Japan (842.98 tons), India (686.03 tons), Netherlands (674.78 tons) and the European Union (556.04 tons).
According to the report:
“Countries usually buy gold as a defensive measure to protect against inflation, acquire loans and prevent economic meltdowns.”
For most countries, Gold Reserves usually contributes to their creditworthiness in the issuance of currency and bonds.
An overview of the year to date (YTD) production of the world’s top five precious metals shows that Lithium holds the top spot with a production of 21,420.80 tons. Silver comes second with 6,804.21 tons while gold has a production capacity of 821.54 tons.
Palladium and Platinum occupy the fourth and fifth spots at 48.23 tons and 36.75 tons respectively.
Precious metals are considered to be rare and have high economic value. These metals’ high value is driven by factors like their rarity, uses in industrial processes and investment vehicles.
The statistics, charts and in-depth information can be found here: https://finbold.com/top-gold-holders-worldwide-by-country-and-institutions/
K92 Mining Inc. (TSX: KNT) is pleased to announce that, further t... READ MORE
This news release constitutes a “designated news release” for... READ MORE
Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) i... READ MORE
Brixton Metals Corporation (TSX-V: BBB) (OTCQB: BBBXF) is pleased... READ MORE
1911 Gold Corporation (TSX-V: AUMB) (OTCQX: AUMBF) is pleased t... READ MORE
We acknowledge the [financial] support of the Government of Canada.