How much gold does the UK own compared to other countries?

04/03/2024

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Several countries around the world are stockpiling gold as a strategic reserve. Here’s a rundown of some of the key players and the amount of gold they hold:

1. USA: The United States leads the pack with a massive 8,133.46 tonnes of gold bullion, stored in various depositories across the country, including the famous Fort Knox.

2. Germany: Coming in second, Germany holds 3,352.65 tonnes of gold. Concerns during the Cold War led Germany to spread its gold reserves globally, with a significant portion repatriated in recent years.

3. Italy: Italy holds slightly more gold than France, with 2,451.84 tonnes stored in vaults in Rome and abroad, managed by the Banca d’Italia.

4. France: France has stockpiled 2,436.97 tonnes of gold, acquired largely during the 1950s and 1960s. Most of its reserves are held in vaults under the Banque de France in Paris.

5. Russia: Russia has been aggressively increasing its gold reserves, currently holding 2,332.74 tonnes. This move is seen as a strategic effort to reduce reliance on the US dollar.

6. China: China boasts 2,235.39 tonnes of gold, making it the world’s largest gold producer and a significant importer as well. The country’s reserves have been steadily increasing over the years.

7. Switzerland: Switzerland holds 1,040 tonnes of gold, with the majority stored at home. The country’s reputation for financial stability has made it a preferred location for storing gold.

These countries, among others, view gold as a valuable asset for diversifying their reserves and protecting against economic uncertainty.

Source and Credit: uk.finance.yahoo.com

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Tags: China, France, Germany, gold, Italy, Russia, Switzerland, USA