India Holds 9th Position in Global Gold Reserves; RBIs Recent Transfer Boosts Holdings!
Posted on: 26/Jul/2024 11:43:13 AM
Gold is the most valuable metal globally and a crucial indicator of a country`s economic strength. Here’s a look at where India stands among the top 10 countries with the largest gold reserves.
Central banks boost gold reserves for stability during economic uncertainty and for ease of conversion into cash, which helps manage national finances. Here are the top 10 countries with the largest gold reserves:
1. United States - 8,133.46 tons
2. Germany - 3,352.65 tons
3. Italy - 2,451.84 tons
4. France - 2,436.88 tons
5. Russia - 2,332.74 tons
6. China - 2,262.45 tons
7. Switzerland - 1,040.00 tons
8. Japan - 845.97 tons
9. India - 822.09 tons
10. Netherlands - 612.45 tons
The United States holds the largest gold reserves at 8,133.46 tons, while India is 9th with 822.09 tons. Despite being in the top 10, India’s reserves are relatively modest compared to the leading nations. However, the Reserve Bank of India (RBI) has recently transferred 100 tonnes of gold from the UK to domestic holdings, increasing India`s reserves to 822 tonnes. A portion of India`s gold remains stored in foreign treasuries, including the Bank of England.
