Do you know which country has the most gold in the world?
Tue Aug 29 2023
The list of countries with the largest gold reserves in the world has been released. Economists say that a country's gold reserves are a sign of its prosperous economy. The United States is the first country to have the largest reserves of gold in that respect. The United States has the largest gold reserves in the world at 8,133 tons. Germany has the second largest gold reserves in Europe. The country has 3,355 tonnes of gold reserves.
Italy is third on the list with 2,452 tonnes of gold. France, a European country, is ranked fourth in the list. France has 2,437 tons of gold reserves. Russia ranks fifth in terms of reserves of the precious yellow metal. The country has 2,330 tonnes of gold.
China holds the sixth position with 2,113 tonnes of gold reserves. Switzerland is seventh with 1,040 tonnes and Japan is eighth with 846 tonnes of gold. India has 797 tonnes of gold reserves as per last March data. Due to this, India has occupied the ninth place in the list of countries that have the most gold.
Holland is in tenth place. The country has 612 tonnes of gold reserves. In this situation, the Reserve Bank of India is buying gold in large quantities. Indian economists who have talked about the reason for this,
“We mostly use dollars to trade with foreign countries. We will multiply dollars in foreign exchange accordingly. Perhaps, if this dollar depreciates, gold will greatly help trade with other countries.
As individuals invest in land and gold as per their needs, Reserve Bank of India is increasing its gold reserves for its trade hedging. Also, the government purchases gold for the needs of the domestic population. This is also a reason for RBI's increase in reserves. Not only India, central banks of all countries invest in gold. Gold is the common currency of all countries. Its value is common to all countries. It is noteworthy that countries like Russia will accept gold even if they don't accept dollars.
Source: https://minnambalam-com