Countries around the world keep gold reserves to handle the country’s economy at the time of crisis. Know which country has a lot of gold reserves.
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Gold is stored in central banks of all the countries of the world. In times of crisis, when the country needs foreign currency, it gets paid by paying through these ‘gold reserves’. In such a situation, let us know about these top 10 countries of the world, which have the highest gold reserves.
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America: America holds the first position in this list with reserves of 8,133.5 tonnes of gold. This gold has been deposited in the United States Bullion Depository. It is managed by the Treasury Department of the United States.
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Germany: This European country has a stock of 3,362.4 tonnes of gold. In this way, Germany stands second in terms of gold reserves. Germany’s gold reserves are kept at the Deutsche Bundesbank in Frankfurt, the New York branch of the Federal Reserve Bank of America, and the Bank of England in London.
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Italy: Famous for its historical buildings, Italy has a stock of 2,451.8 tonnes of gold. These deposits are mostly stored in the form of gold bricks. Apart from this, a large number of gold coins have also been kept in this store. The Bank of Italy looks after this gold reserves.
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France: The country’s central bank had sold some of its gold. After this, France has a stock of 2,435.7 tonnes of gold and occupies the fourth position. France has always used this stock in times of crisis.
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Russia: For the last seven years, Russia’s gold reserves have remained at 2,299.9. Russia has also made frequent purchases of gold to increase this gold reserves. Currently Russia ranks fifth in terms of gold reserves.
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China: For the first time since 2009, the People’s Bank of China planned to buy gold on a month-by-month basis. Currently, China has reserves of 1,948.3 tonnes of gold. In this way, he is at the sixth position in this list.
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Switzerland: One of the world’s richest countries, Switzerland has a stock of 1,040.0 tonnes of gold. In this way, he is present in the seventh position in the gold reserves case. Switzerland remained neutral during World War II and emerged as the gold trading center of Europe.
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Japan: Japan, which is called the Asian superpower, has a gold reserves of 765.2 tonnes. Japan with the world’s third-largest economy is ranked eighth on the gold reserves list.
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India: India ranks ninth in terms of gold reserves. It has a stock of 657.7 tonnes of gold. Gold accounts for 7.5 percent of India’s foreign exchange reserves.
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Netherlands: The Netherlands, famous for its canals, has 612.5 tonnes of gold reserves. In this way, he is at the 10th position in terms of gold reserves. The Dutch Central Bank recently announced that it has located its gold reserves from Amsterdam to Camp New Amsterdam.
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