Top 40 Gold Holding Nations

Below are charts showing the gold reserves by country as reported by the World Gold Council.

Updated November 7, 2015

2015 Gold Reserves By Country

The Top Ten

According to the World Gold Council, China holds the fifth most gold of any nation. China added fifteen tonnes of gold to its reserves in September Russia added 34 tonnes in September.

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.

China is the world’s largest gold mining country and exports none of the 400+ tons a year it produces. China has mined 228.7 tons of gold during the first six month of 2015.

While Russia and China have been increasing their gold reserves, Western nations, like Cyprus have contemplated sales of their gold. Indeed, the European Union is consideringending a fifteen year restriction on central bank gold selling.

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.

Fractional American Gold Eagles in 1/10, 1/4 and 1/2 oz Sizes for Smaller Budgets

The Top Twenty One to Thirty

Austria, which recently began to repatriate its gold has the 21st most gold of any nation.

The Top Thirty One to Forty

Greece has 112 tonnes of gold reserves and did not sell any during its financial crisis.

2014 Gold Reserves By Country

Russia and China Have Increased Their Gold Reserves And Are Now In The Top 10.

2014 Gold Top Twenty Chart Courtesy of Nick Laird.

The above originally appeared at Smaugld.