India moves up to the 9th place in the quantity of gold on hand
Posted on: 20/Aug/2019 1:01:32 PM
India has advanced to the 9th place among the nations in the list of the maximum quantity of gold on hand.
Presently, there is a huge demand for buying gold on a global level! Subsequently, the price of gold has been shooting up steadily!
Apart from the public interested in buying gold, various countries themselves have shown a keen interest in buying gold.
This is because of the fact that a country’s economic stability is based on the quantity of gold on hand with the country.
All the countries circulate their currencies based on the quantity of gold on hand with the country’s leading bank (In India, it is the Reserve Bank of India). So, there is a very tough competition among the countries to keep the maximum quantity of gold on hand!
As on date, the No.# 1 country with the maximum quantity of gold on hand is the United States of America. As per the recent release by the World Gold Council of a list of the countries with the estimated amount of gold on hand, the USA has 8133.5 tons of gold on hand.
Next in the list, placed in the 2nd position is Germany with 3367.8 tons of gold.
Following this list with gold on hand in tons are Italy (2451.8), France (2436.1), Russia (2207), China (1926.5), Switzerland (1040 ), Japan (765.2), India (618.2), and Netherlands (612.5).
India was in the 9th place as per the previous list. Now, it has jumped 1 place ahead to the 9th place!
