Top 10 Countries with Most Gold Reserves

Gold reserves represent one of the most important indicators of a country's financial strength and economic stability. Central banks and monetary authorities around the world maintain substantial gold holdings as a hedge against inflation, currency devaluation, and economic uncertainty. These reserves serve as a critical component of national wealth management, providing a tangible asset that has maintained its value for thousands of years. Understanding which countries hold the largest gold reserves offers insights into global economic power dynamics and monetary policy strategies. Today, we'll explore the 10 countries with the most gold reserves, from the United States' massive stockpile to emerging powers like China and Russia, examining how these nations use gold to protect their economic interests and maintain financial sovereignty. For more insights into global economics, explore our guides to the richest countries by GDP and most profitable companies.

Methodology

This ranking is based on official gold reserve data reported by central banks and monetary authorities, using the most recent and accurate information available as of November 2025. The criteria for inclusion are:

Inclusion Criteria:

• Sovereign states with recognized central bank or monetary authority
• Official gold reserves held by central banks or treasury departments
• Data based on official government reports and international financial organizations
• Rankings reflect total gold holdings in metric tonnes

Data Sources:

• World Gold Council (WGC) official statistics
• International Monetary Fund (IMF) International Financial Statistics
• Central bank official reports and disclosures
• National treasury and monetary authority publications

Important Considerations:

• Gold reserves are measured in metric tonnes (1 tonne = 32,150.7 troy ounces)
• Data represents official holdings, not private gold ownership
• Reserve figures may include gold held domestically and in foreign vaults
• Rankings reflect total holdings, not per capita reserves
• Data is based on the most recent verified reports available as of November 2025
• Reserve figures may change as central banks buy or sell gold based on monetary policy

Verification Process: All gold reserve figures have been cross-referenced with multiple authoritative sources including the World Gold Council, International Monetary Fund, and official central bank reports. Data represents the most current official measurements available as of November 2025, verified through multiple international financial organizations.

List of Countries with Most Gold Reserves

10. Netherlands - 612.4 Tonnes

Netherlands holds the 10th largest gold reserves in the world, maintaining approximately 612.4 tonnes of gold as part of its monetary reserves. The Dutch central bank (De Nederlandsche Bank) has maintained a stable gold reserve policy, viewing gold as an important component of financial stability.

Key Facts:

• Gold as percentage of total reserves: Approximately 68%
• Storage: Majority held in foreign vaults (United States, Canada, United Kingdom)
• Reserve value: Approximately $40-45 billion USD (based on current gold prices)
• Historical significance: Netherlands has maintained substantial gold reserves since the gold standard era

Interesting Facts:

• The Netherlands repatriated 122.5 tonnes of gold from New York in 2014-2015, demonstrating a trend toward domestic storage
• Dutch gold reserves represent one of the highest percentages of total reserves among major economies
• The country's gold holdings date back to its role as a major trading power during the Dutch Golden Age
• Netherlands maintains gold reserves as a hedge against eurozone economic uncertainty
• The central bank views gold as a crucial asset for maintaining monetary stability and public confidence

9. Japan - 845.9 Tonnes

Japan holds the 9th largest gold reserves globally, with approximately 845.9 tonnes of gold maintained by the Bank of Japan. Despite having one of the world's largest economies, Japan's gold reserves represent a relatively small percentage of its total foreign exchange reserves.

Key Facts:

• Gold as percentage of total reserves: Approximately 3-4%
• Storage: Held primarily in domestic vaults
• Reserve value: Approximately $55-60 billion USD
• Policy: Japan maintains stable gold reserves with minimal active trading

Interesting Facts:

• Japan's gold reserves have remained relatively stable for decades, with the central bank rarely buying or selling gold
• The country's massive foreign exchange reserves (over $1.3 trillion) mean gold represents a small but significant portion
• Japan's gold holdings reflect its conservative monetary policy and focus on currency stability
• The Bank of Japan views gold as a long-term store of value rather than an active trading asset
• Japan's gold reserves provide diversification for its primarily dollar-denominated foreign exchange holdings

8. India - 876.1 Tonnes

India holds the 8th largest gold reserves in the world, with approximately 876.1 tonnes of gold maintained by the Reserve Bank of India. India has been actively accumulating gold reserves in recent years as part of its strategy to diversify foreign exchange holdings.

Key Facts:

• Gold as percentage of total reserves: Approximately 7-8%
• Storage: Held in domestic vaults and foreign locations
• Reserve value: Approximately $57-62 billion USD
• Recent activity: India has been a net buyer of gold in recent years

Interesting Facts:

• India is the world's second-largest consumer of gold, with strong cultural and religious significance attached to the metal
• The Reserve Bank of India has been actively purchasing gold to diversify away from US dollar holdings
• India's gold reserves have increased significantly since 2017, reflecting a strategic shift in reserve management
• The country's massive population and growing economy make gold reserves crucial for monetary stability
• India's gold holdings provide a hedge against currency volatility and economic uncertainty in emerging markets

7. Switzerland - 1,039.9 Tonnes

Switzerland holds the 7th largest gold reserves globally, with approximately 1,039.9 tonnes of gold maintained by the Swiss National Bank. Switzerland's gold reserves reflect its historical role as a global financial center and its commitment to monetary stability.

Key Facts:

• Gold as percentage of total reserves: Approximately 5-6%
• Storage: Held in domestic vaults and foreign locations
• Reserve value: Approximately $68-73 billion USD
• Historical significance: Switzerland has maintained substantial gold reserves since the gold standard era

Interesting Facts:

• Switzerland has one of the highest per capita gold reserves in the world
• The Swiss National Bank maintains gold as a core component of its monetary policy framework
• Switzerland's gold reserves reflect its historical commitment to financial stability and neutrality
• The country's gold holdings provide confidence in the Swiss franc as a stable currency
• Switzerland's gold reserves are managed as part of a diversified reserve portfolio alongside foreign currencies

6. China - 2,279.6 Tonnes

China holds the 6th largest gold reserves in the world, with approximately 2,279.6 tonnes of gold maintained by the People's Bank of China. China has been one of the most active gold buyers in recent years, significantly increasing its reserves as part of a strategic diversification effort.

Key Facts:

• Gold as percentage of total reserves: Approximately 3-4%
• Storage: Held primarily in domestic vaults
• Reserve value: Approximately $150-160 billion USD
• Recent activity: China has been actively accumulating gold since 2000, with significant purchases in recent years

Interesting Facts:

• China is the world's largest gold producer and consumer, with massive domestic gold mining operations
• The People's Bank of China has been quietly accumulating gold reserves as part of its strategy to reduce dependence on US dollar holdings
• China's gold reserves have increased dramatically from just 600 tonnes in 2000 to over 2,200 tonnes today
• The country's gold accumulation reflects its long-term strategy to internationalize the yuan and diversify reserves
• China's massive foreign exchange reserves (over $3 trillion) mean gold represents a growing but still relatively small percentage

5. Russia - 2,333.1 Tonnes

Russia holds the 5th largest gold reserves globally, with approximately 2,333.1 tonnes of gold maintained by the Central Bank of Russia. Russia has been one of the world's most aggressive gold buyers in recent years, significantly increasing its reserves as part of a de-dollarization strategy.

Key Facts:

• Gold as percentage of total reserves: Approximately 20-25%
• Storage: Held primarily in domestic vaults in Moscow
• Reserve value: Approximately $153-163 billion USD
• Recent activity: Russia has been a major gold buyer, increasing reserves from 400 tonnes in 2000

Interesting Facts:

• Russia is the world's second-largest gold producer, allowing it to accumulate reserves through domestic production
• The Central Bank of Russia has been actively buying gold to reduce dependence on US dollar reserves and Western financial systems
• Russia's gold reserves have increased dramatically, from approximately 400 tonnes in 2000 to over 2,300 tonnes today
• The country's gold accumulation accelerated after 2014 sanctions, as part of a strategy to reduce financial vulnerability
• Russia's gold holdings provide a hedge against currency volatility and economic sanctions, serving as a form of financial sovereignty

4. France - 2,437.0 Tonnes

France holds the 4th largest gold reserves in the world, with approximately 2,437.0 tonnes of gold maintained by the Banque de France. France has maintained substantial gold reserves since the gold standard era, viewing gold as a crucial component of monetary sovereignty.

Key Facts:

• Gold as percentage of total reserves: Approximately 65-70%
• Storage: Held primarily in the Banque de France vaults in Paris
• Reserve value: Approximately $160-170 billion USD
• Policy: France maintains a stable gold reserve policy with minimal selling

Interesting Facts:

• France has one of the highest percentages of gold relative to total reserves among major economies
• The Banque de France stores its gold reserves in the historic vaults beneath the bank's headquarters in Paris
• France has been a vocal advocate for maintaining gold reserves as a symbol of monetary independence
• The country's gold holdings date back to the gold standard era and reflect France's historical role in global finance
• France's gold reserves provide a hedge against eurozone economic uncertainty and currency devaluation

3. Italy - 2,451.8 Tonnes

Italy holds the 3rd largest gold reserves globally, with approximately 2,451.8 tonnes of gold maintained by the Banca d'Italia. Italy has maintained substantial gold reserves since the gold standard era, with reserves that have remained relatively stable for decades.

Key Facts:

• Gold as percentage of total reserves: Approximately 70-75%
• Storage: Held primarily in domestic vaults and foreign locations
• Reserve value: Approximately $161-171 billion USD
• Policy: Italy maintains a stable gold reserve policy, viewing gold as a core reserve asset

Interesting Facts:

• Italy has one of the highest percentages of gold relative to total reserves among major economies
• The Banca d'Italia has maintained its gold reserves as a core component of monetary policy
• Italy's gold holdings provide significant financial stability and confidence in the euro
• The country's gold reserves date back to the gold standard era and reflect Italy's historical role in European finance
• Italy's gold reserves have remained stable despite economic challenges, demonstrating the value of gold as a long-term store of value

2. Germany - 3,351.5 Tonnes

Germany holds the 2nd largest gold reserves in the world, with approximately 3,351.5 tonnes of gold maintained by the Deutsche Bundesbank. Germany has maintained substantial gold reserves since the post-World War II era, viewing gold as a crucial component of monetary stability.

Key Facts:

• Gold as percentage of total reserves: Approximately 70-75%
• Storage: Held in domestic vaults (Frankfurt) and foreign locations (New York, London, Paris)
• Reserve value: Approximately $220-230 billion USD
• Recent activity: Germany completed a major gold repatriation program in 2017, bringing gold back from foreign vaults

Interesting Facts:

• Germany has one of the highest percentages of gold relative to total reserves among major economies
• The Deutsche Bundesbank completed a major gold repatriation program, bringing 674 tonnes of gold back to Germany from New York and Paris between 2013-2017
• Germany's gold reserves reflect its historical commitment to monetary stability and the gold standard
• The country's gold holdings provide confidence in the euro and serve as a hedge against currency devaluation
• Germany's gold reserves are stored in the Bundesbank's vaults in Frankfurt, with some holdings still maintained in foreign locations for operational purposes

1. United States - 8,133.5 Tonnes

United States holds by far the largest gold reserves in the world, with approximately 8,133.5 tonnes of gold maintained by the US Treasury and stored at facilities including Fort Knox, West Point, and the Denver Mint. The United States' massive gold reserves represent approximately 23% of all official gold reserves globally.

Key Facts:

• Gold as percentage of total reserves: Approximately 75-80%
• Storage: Held in domestic vaults at Fort Knox (Kentucky), West Point (New York), and Denver Mint (Colorado)
• Reserve value: Approximately $535-545 billion USD
• Historical significance: US gold reserves date back to the gold standard era and represent the world's largest official gold stockpile

Interesting Facts:

• The United States holds more gold than the next three countries combined (Germany, Italy, and France)
• Fort Knox holds approximately 4,600 tonnes of gold, making it one of the most secure facilities in the world
• US gold reserves represent the legacy of the gold standard era and the Bretton Woods system
• The country's gold holdings provide confidence in the US dollar as the world's primary reserve currency
• The United States has maintained its gold reserves relatively stable since abandoning the gold standard in 1971
• US gold reserves are stored in highly secure facilities with extensive security measures, reflecting their strategic importance
• The massive gold holdings support the US dollar's role in global finance and provide a hedge against economic uncertainty

Summary of the Top 10 Countries with Most Gold Reserves

Note: Reserve values are approximate and fluctuate with gold prices. Gold as percentage of total reserves is estimated based on total foreign exchange reserves.

Conclusion

These 10 countries represent the world's largest holders of official gold reserves, collectively maintaining approximately 65-70% of all official gold reserves globally. From the United States' massive stockpile at Fort Knox to Germany's strategic reserves and China's rapidly growing holdings, each nation uses gold reserves as a critical component of monetary policy and financial stability.

The strategic importance of gold reserves has become increasingly evident in recent years, with countries like Russia and China actively accumulating gold as part of de-dollarization strategies and efforts to reduce dependence on Western financial systems. Meanwhile, traditional gold holders like the United States, Germany, Italy, and France maintain substantial reserves as symbols of monetary sovereignty and financial stability.

The concentration of gold reserves among these major economic powers reflects the ongoing importance of gold as a store of value, hedge against inflation, and tool for maintaining financial independence. As global economic uncertainty continues and geopolitical tensions persist, gold reserves remain a crucial asset for central banks seeking to protect their nations' economic interests and maintain monetary stability.

Understanding these gold reserve dynamics is essential for comprehending global monetary policy, currency stability, and the shifting balance of economic power. Whether held as a legacy of the gold standard era or accumulated as part of modern diversification strategies, gold reserves continue to play a vital role in the global financial system, providing confidence, stability, and financial sovereignty for nations around the world.

For more insights into global economics and finance, explore our comprehensive guides to the richest countries by GDP, most profitable companies, and largest stock exchanges.

This list is based on official gold reserve data reported by central banks and monetary authorities, using the most recent verified information available as of November 2025 from the World Gold Council, International Monetary Fund, and official central bank reports. Gold reserve figures are measured in metric tonnes and may change as central banks buy or sell gold based on monetary policy decisions. Reserve values fluctuate with gold prices, and percentages of total reserves are estimates based on total foreign exchange reserve data.