The chart shows that the United States is the largest holder of gold in the world. In the last few years Russia and China have increased their gold reserves significantly. The chart shows China to have the sixth largest holdings of the yellow metal with 1,708 tonnes. Even after China updated their official gold holdings in July of 2015, and again inAugust of 2015, many suspect that China has far more gold than they have reported.
Click here for an explanation on where China’s gold might be.
Keep in mind that the gold reserves reported by the World Gold Council are probably subject to adjustment as many central banks are suspected of overstating (United States) or understating (China) their gold reserves. Some countries (Germany) may claim certain gold reserves but may not have physical possession of those reserves. In addition, it is also suspected that gold held by central banks may have been lent or rehypothicatedsuch that they may no longer either have the physical gold or only have a claim on it.
With the potential for currency wars between the Russia and the United States, Russia has been steadily building their gold reserves, while the United States tapers their multi-year/multi-trillion dollar printing quantitative easing scheme.
The Top Eleven toTwenty
India’s gold reserves place it eleventh among nations.