List of Top 10 Countries with Highest Gold Reserves [2025]

Many countries maintain gold reserves for a variety of reasons. But, before we get into it, do you understand what gold reserves are? 

Gold reserves refer to the quantity of gold held by a central bank or government as a financial asset. These reserves can serve as a form of currency stabilisation and can provide security during times of economic uncertainty. 

This system tied the value of a country’s currency to a fixed amount of gold, requiring nations to keep large gold reserves to support their money supply.

The United States, for instance, started amassing significant gold reserves in the late 19th century. With the Gold Reserve Act of 1934, gold ownership was transferred from private persons to the US Treasury, significantly increasing the nation's reserves.

According to the World Gold Council, the United States of America has the largest gold reserves, nearly equalling the combined holdings of France, Italy, and Germany.

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List of Countries with Highest Gold Reserves

Here's the list of the top 10 countries with the most gold reserves in the world. The data has been compiled from the latest reports by the World Gold Council. 

These countries hold a significant amount of gold as part of their national reserves, which can impact global financial markets. 

Source: World Gold Council 

1. United States of America

The United States holds the largest gold reserves in the world, with approximately 8,133.5 metric tons. These reserves are a vital part of its economic stability and serve as a global financial backing. 

The US gold reserves are stored mainly in Fort Knox, along with other locations like the Denver Mint and San Francisco Mint. Gold acts as a safeguard against currency fluctuations and economic crises. 

The US also has the world's highest foreign exchange reserves, totalling over $910 billion, highlighting its economic strength. 

The gold reserves symbolise the country’s long-standing economic stability and influence. Having such vast reserves allows the US to maintain its monetary policy and influence on the global market. 

The country’s gold holdings also reflect its sustained commitment to maintaining a resilient financial system. As the world's leading economy, the US’s gold reserves play an essential role in supporting its currency, the US dollar, which is the world's primary reserve currency.

2. Germany

Germany possesses the second-largest gold reserves, totalling around 3,351.5 metric tonnes. The country traditionally accumulated gold during its post-World War II economic recovery, establishing a robust financial system. 

Germany's gold is primarily stored in Frankfurt but also in international locations like the US and the UK. The country’s gold reserves are a symbol of its economic stability within Europe. 

Germany is a founding member of the European Union and the Eurozone, and its financial strength is vital in maintaining European economic stability. The country’s reserve holdings help support the Euro currency and ensure confidence in its banking system. 

Germany also emphasises transparency, and under recent agreements, it has started to repatriate some of its gold reserves held abroad. 

The gold holdings reflect Germany’s cautious yet confident approach to maintaining its economic sovereignty and resilience against global financial fluctuations.

3. Italy

Italy’s gold reserves are approximately 2,451.8 metric tonnes, making it one of the top gold-holding nations globally. These reserves historically formed part of Italy’s efforts to stabilise its currency and safeguard economic stability amid economic challenges and fluctuations. 

Italy’s gold is mainly stored in the Bank of Italy’s vaults and abroad in locations like Switzerland and the UK. Gold acts as a vital reserve asset, providing confidence during financial crises. 

Italy's economy relies significantly on exports, manufacturing, and tourism, making its reserve management critically important. 

The country’s gold holdings serve as a buffer during global economic downturns, helping to stabilise national currency and financial systems. Italy’s commitment to maintaining substantial gold reserves reflects its prudent fiscal policy. 

As part of the Eurozone, Italy’s gold stability contributes to the overall strength and credibility of the euro currency, supporting its ongoing economic resilience during times of global uncertainty.

4. China

China’s gold reserves stand at around 2,279.6 metric tonnes, ranking it among the top gold-holding nations. Historically, China’s gold reserves have increased steadily over the years as part of its strategy to diversify holdings and strengthen its economic position. 

The government accumulates gold through various channels, including mining and official purchases, to reduce reliance on the US dollar and global financial markets. 

China, a major global economic player, uses its gold reserves to bolster the yuan’s stability and enhance its currency sovereignty. 

These reserves also serve as a safeguard against economic uncertainties. China’s rapid economic growth, along with its significant foreign exchange reserves exceeding $3.2 trillion, indicates its substantial financial strength. 

The country’s investment in gold is part of its broader strategy of economic stabilisation and reducing exposure to external shocks. The Reserve Bank of China manages these assets carefully to support the country’s economic ambitions on the global stage.

5. Switzerland

Switzerland holds approximately 1,039.9 metric tonnes of gold, ranking fifth worldwide. Known for its banking secrecy and financial stability, Switzerland has maintained its position through prudent reserve management. 

The country’s gold reserves are mainly stored in the Swiss National Bank’s vaults, symbolising its status as a global financial hub. Gold forms an essential part of Swiss monetary policy, providing security during financial instability or currency devaluation. 

Switzerland’s wealth is also bolstered by its strong banking, finance, and commodity trading sectors. The country’s gold reserves reflect its long-standing reputation as a safe haven for investors and wealthy individuals. 

Switzerland’s gold holdings support its economy’s stability and underpin confidence in its financial infrastructure. The country’s neutral geopolitical stance further solidifies its role as a trusted custodian of gold and other reserve assets in the international financial community.

6. India

India’s gold reserves, approximately 876.1 metric tonnes, are a fundamental part of its economy and cultural heritage. Gold is deeply rooted in Indian tradition, used in religious festivals, weddings, and savings. 

The Reserve Bank of India (RBI) manages most of the reserves, stored mainly in Mumbai and some abroad. India’s gold reserves act as a financial hedge against inflation and currency fluctuations, maintaining economic stability. 

The country is one of the largest consumers and importers of gold globally, influencing gold prices substantially. During economic uncertainties, India tends to increase its gold holdings, viewing it as a secure asset. 

Gold also plays a strategic role in India’s trade, reserve management, and overall fiscal policy. As the country’s economy grows, so does the significance of its gold reserves in supporting financial security and cultural traditions.

7. Japan

Japan’s gold reserves are around 845.97 metric tonnes, making it a key holder among Asian economies. Japan has historically accumulated gold as part of its commitment to economic stability, especially after World War II. 

The country’s reserves are stored in locations like Tokyo and foreign vaults, contributing to its status as a global financial hub. Japan’s large economy is sensitive to international markets, and holding gold offers a safe haven during crisis periods. 

The Bank of Japan manages these reserves prudently to support the yen’s stability and protect against capital flight or currency devaluations. 

Japan’s focus on technological innovation and economic resilience makes its gold reserves a critical buffer in uncertain times. As an active participant in global finance, Japan’s gold stocks enhance investor confidence and support national monetary policies.

8. Poland

Poland has around 448.23 metric tonnes of gold reserves, making it an important European reserve holder. The country’s gold holdings have increased over recent decades as part of its efforts to strengthen national financial security amid regional economic uncertainties. 

Poland’s gold is mainly stored in local vaults in Warsaw and abroad in safe locations like the UK and Switzerland. Gold serves as a safeguard against inflation and currency risks, especially during economic downturns or geopolitical tensions. 

Under the European Union framework, Poland’s reserves bolster overall regional stability and monetary policy. 

The country’s focus on maintaining a solid reserve base reflects its prudent fiscal management and commitment to economic sovereignty. As Poland continues consolidating its economic strength, gold remains a vital component of its strategic reserve holdings.

9. United Kingdom

The UK’s gold reserves amount to approximately 310.2 metric tonnes, securing its position as a significant European reserve holder. The Bank of England manages these reserves, stored mainly in London’s vaults, which are a major global financial hub. 

Gold supports the UK’s monetary policy by maintaining financial stability and investor confidence. Its reserves serve as a backup during crises, helping stabilise currency and economic output. 

The UK’s long history of global finance and trade has helped build a strong reserve position. Gold also has cultural importance and acts as a symbol of financial strength. 

The UK’s disciplined management of reserve assets, including gold, reflects its well-established monetary policy framework, and its status as a financial centre reinforces the importance of holding substantial foreign reserves.

10. Thailand

Thailand’s gold reserves are about 234.5 metric tonnes, making it a notable Asian reserve holder. The country’s reserves are managed by the Bank of Thailand and stored in local vaults. 

Gold forms a key part of Thailand’s financial security, safeguarding against economic shocks and currency devaluation. The country’s economic strategy emphasises stability, and gold reserves contribute to its monetary policy. 

Gold is also culturally significant in Thailand, used in religious rituals and celebrations. During global crises or fluctuations in the economy, Thailand tends to increase its gold holdings, highlighting its importance as a safe-haven asset. 

The government’s strategic reserve management aims to support its export-driven economy and maintain overall financial stability, especially amid regional uncertainties and economic challenges.

Conclusion

Gold reserves act as the foundation of a country's financial stability, providing a tangible asset that can be used to back up its currency. In times of economic uncertainty, gold reserves can help bolster confidence in the country's monetary system and maintain its value. 

As of the World Gold Council Report 2024 [Q4], the United States stands as the country with the largest gold reserves in the world, holding approximately 8,133.5 tonnes of gold. 

Following the U.S., Germany, Italy, and France are among the top countries with significant gold reserves, further solidifying their economic standing on a global scale. 

Central banks hold approximately 20% of all mined gold, reflecting its significance in maintaining financial security and liquidity. They typically consist of gold bullion and coins that are officially owned by the state. This includes both physical gold and unallocated gold accounts held with foreign entities. 

Throughout history, gold reserves have been viewed as critical national assets, often influencing economic policies and wartime strategies. 

Therefore, this article not only highlights the countries with substantial gold holdings but also underscores the importance of gold as a strategic asset in global finance.

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