countries with the highest gold reserves in 2024
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The World Gold Council, a prominent international trade association for the gold industry headquartered in the United Kingdom, has published a comprehensive list of countries with the highest gold reserves as of the first quarter of 2024.
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countries with the highest gold reserves in 2024
- 1. Tonnes % of reserves** Holdings as of Tonnes % of reserves** Holdings as of 1 United States 8,133.5 71.3% Mar 2024 51 Belarus, Rep. of4) 54.0 46.1% Mar 2024 2 Germany 3,352.3 70.6% Mar 2024 52 Finland 49.0 20.3% Mar 2024 3 IMF 2,814.0 1) Mar 2024 53 Cambodia 42.5 15.9% Jul 2023 4 Italy 2,451.8 67.6% Mar 2024 54 Bulgaria 40.9 7.0% Mar 2024 5 France 2,436.9 68.6% Mar 2024 55 Serbia, Rep. of 40.7 10.8% Mar 2024 6 Russian Federation 2,332.7 28.1% Mar 2024 56 Malaysia 38.9 2.4% Mar 2024 7 China, P.R.: Mainland 2,262.4 4.6% Mar 2024 57 WAEMU3) 36.5 16.0% Feb 2024 8 Switzerland 1,040.0 8.6% Feb 2024 58 Czech Rep. 35.6 1.7% Mar 2024 9 Japan 846.0 4.7% Mar 2024 59 Peru 34.7 3.4% Jul 2021 10 India 822.1 9.0% Mar 2024 60 Slovak Rep. 31.7 18.0% Mar 2024 11 Netherlands, The 612.5 60.5% Mar 2024 61 Ukraine 27.1 4.4% Mar 2024 12 Turkey5) 570.3 37.1% Nov 2022 62 Ecuador 26.3 35.8% Feb 2024 13 ECB 506.5 37.1% Mar 2024 63 Syrian Arab Republic 25.8 9.9% Jun 2011 14 Taiwan Province of China 422.4 5.0% Feb 2024 64 Kyrgyz Rep. 24.8 51.7% Mar 2024 15 Portugal 382.6 73.3% Mar 2024 65 Bolivia 24.3 77.0% Aug 2023 16 Poland, Rep. of 359.9 12.6% Mar 2024 66 Morocco 22.1 4.4% Feb 2024 17 Uzbekistan, Rep. of 357.7 74.3% Mar 2024 67 Afghanistan, Islamic Rep. of 21.9 15.9% May 2021 18 Saudi Arabia 323.1 5.1% Feb 2024 68 Nigeria 21.5 4.4% Jan 2018 19 Kazakhstan, Rep. of 310.6 58.4% Mar 2024 69 Bangladesh 14.3 5.1% Mar 2024 20 United Kingdom 310.3 12.6% Mar 2024 70 Cyprus 13.9 52.2% Mar 2024 21 Lebanon 286.8 58.6% Sep 2023 71 Curaçao and Sint Maarten 13.1 36.5% Nov 2023 22 Spain 281.6 19.3% Mar 2024 72 Mauritius 12.4 12.2% Mar 2024 23 Austria 280.0 62.0% Mar 2024 73 Ireland 12.0 6.7% Mar 2024 24 Singapore 236.6 4.5% Mar 2024 74 Ghana 8.7 15.0% Jan 2024 25 Thailand 234.5 7.5% Mar 2024 75 Paraguay 8.2 5.8% Mar 2024 26 Belgium 227.4 38.8% Mar 2024 76 Nepal 8.0 4.6% Dec 2023 27 Algeria 173.6 15.1% Mar 2024 77 Myanmar 7.3 6.3% Mar 2021 28 Venezuela, Republica Bolivariana de 161.2 85.6% Jun 2018 78 North Macedonia, Republic of 6.9 10.6% Mar 2024 29 Philippines 157.3 10.9% Feb 2024 79 Guatemala 6.9 2.3% Mar 2024 30 Libya 146.7 11.2% Mar 2024 80 Tunisia 6.8 6.0% Mar 2024 31 Iraq 142.6 9.3% Jan 2024 81 Mongolia 6.8 9.9% Feb 2024 32 Brazil 129.7 2.6% Mar 2024 82 Oman 6.7 2.7% Feb 2024 33 Egypt, Arab Rep. of 126.5 23.5% Mar 2024 83 Latvia 6.7 9.4% Mar 2024 34 Sweden 125.7 14.6% Mar 2024 84 Lithuania 5.8 7.6% Mar 2024 35 South Africa 125.4 14.3% Mar 2024 85 BEAC9) 4.7 1) Mar 2024 36 Mexico 120.4 3.9% Mar 2024 86 Colombia 4.7 0.6% Mar 2024 37 Greece 114.4 58.1% Mar 2024 87 Bahrain, Kingdom of 4.7 6.4% Mar 2024 38 Korea, Rep. of 104.4 1.8% Feb 2024 88 Brunei Darussalam 4.6 7.7% Nov 2023 39 Romania 103.6 9.6% Mar 2024 89 Mozambique, Rep. of 3.9 7.6% Feb 2024 40 Qatar 102.5 14.1% Mar 2024 90 Albania 3.4 4.0% Feb 2024 41 BIS2) 102.0 1) Feb 2024 91 Slovenia, Rep. of 3.2 8.6% Mar 2024 42 Hungary 94.5 13.5% Mar 2024 92 Aruba, Kingdom of the Netherlands 3.1 14.5% Jun 2023 43 Australia 79.9 10.3% Mar 2024 93 Luxembourg 2.2 5.4% Mar 2024 44 Kuwait 79.0 10.9% Jan 2024 94 Hong Kong SAR 2.1 0.0% Feb 2024 45 Indonesia 78.6 3.9% Feb 2024 95 Iceland 2.0 2.1% Mar 2024 46 United Arab Emirates 73.9 2.7% Feb 2024 96 Trinidad and Tobago 1.9 2.5% Mar 2024 47 Jordan 66.7 24.3% Mar 2024 97 Yemen, Republic of 1.6 2.2% Jul 2014 48 Denmark 66.5 4.3% Mar 2024 98 Bosnia and Herzegovina 1.5 1.2% Feb 2024 49 Pakistan 64.7 33.2% Mar 2024 99 Papua New Guinea 1.3 2.5% Jun 2020 50 Argentina 61.7 16.2% Mar 2024 100 Suriname 1.2 6.3% Mar 2024 WORLD OFFICIAL GOLD HOLDINGS International Financial Statistics, May 2024*
- 2. Other Tonnes % of reserves** Holdings as of World6) 35,938.9 16.2% Feb 2024 Euro Area (incl. ECB) 10,771.2 58.4% Mar 2024 State Oil Fund of the Republic of Azerbaijan (SOFAZ)8) 104.8 13.2% Mar 2024 WORLD OFFICIAL GOLD HOLDINGS International Financial Statistics, May 2024* NOTES * This table was updated in May 2024 and reports data available at that time. Data are taken from the International Monetary Fund's International Financial Statistics (IFS), May 2024 edition, and other sources where applicable. IFS data are two months in arrears, so holdings are as of March 2024 for most countries, March 2024 or earlier for late reporters. The table does not list all gold holders: some countries are known to hold gold but they do not report their holdings publicly. Where the WGC knows of movements that are not reported to the IMF or misprints, changes have been made. **The percentage share held in gold of total foreign reserves, as calculated by the World Gold Council. The value of gold holdings is calculated using the end of month LBMA Gold price published daily by ICE Benchmark Administration. In March 2024 the end of month gold price was US$2214.35/oz. Data for the value of other reserves are taken from IFS, table ‘Total Reserves minus Gold’. 1. BIS and IMF balance sheets do not allow this percentage to be calculated. In the case of any countries, up to date data for other reserves are not available. 2. BIS data are updated each year from the BIS’s annual report to reflect the Bank’s gold investment assets excluding any gold held in connection with swap operations, under which the Bank exchanges currencies for physical gold. The bank has an obligation to return the gold at the end of the contract. 3. West African Economic Monetary Union members include Benin, Burkina Faso, Côte D'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. 4. Includes only "Monetary gold" as of February 2014. 5. The figure provided is official sector gold reserves, i.e. the sum of central bank owned gold and Treasury gold holdings. This is equivalent to gross gold reserves less all gold held at the central bank in relation to commercial sector gold policies, such as the Reserve Option Mechanism (ROM), collateral, deposits, and swaps. Please see this link for information on this new methodology: https://www.gold.org/download/file/16208/Central-bank-stats-methodology- techincal-adjustments.pdf 6. World total as calculated by the IMF. This will not equal the total for the countries in the table as ‘World total’ will include data for countries beyond the top 100 and for countries that do not publish their reserves. World total also captures BIS holdings inclusive of swap operations (please see footnote 2 above for World Gold Council treatment of BIS holdings). 7. In July 2015 The State Bank of Vietnam stated that gold reserves totalled 10 tonnes. This is omitted from our ranking above due to the current absence of any published data. 8. SOFAZ accumulates gold in accordance with the amendments made to the Investment Policy of the Fund for the purposes of diversification. Its investment policy was amended in 2019 to extend the gold allocation limit from 5% to 10%, along with maximum upper deviation of 3% (https://www.oilfund.az/storage/images/joqajf7fm8.pdf). Currently, the Central Bank of Azerbaijan does not hold any gold. 9. Bank Central African States (BEAC) is a central bank serving Cameroon, Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo. These six countries make up the Economic and Monetary Community of Central Africa. Please see Disclaimer on the following page.
- 3. Important information and disclosures © 2024 World Gold Council. All rights reserved. World Gold Council and the Circle device are trademarks of the World Gold Council or its affiliates. All references to LBMA Gold Price are used with the permission of ICE Benchmark Administration Limited and have been provided for informational purposes only. ICE Benchmark Administration Limited accepts no liability or responsibility for the accuracy of the prices or the underlying product to which the prices may be referenced. Other content is the intellectual property of the respective third party and all rights are reserved to them. Reproduction or redistribution of any of this information is expressly prohibited without the prior written consent of World Gold Council or the appropriate copyright owners, except as specifically provided below. Information and statistics are copyright © and/or other intellectual property of the World Gold Council or its affiliates (collectively, “WGC”) or third-party providers identified herein. All rights of the respective owners are reserved. The use of the statistics in this information is permitted for the purposes of review and commentary (including media commentary) in line with fair industry practice, subject to the following two pre-conditions: (i) only limited extracts of data or analysis be used; and (ii) any and all use of these statistics is accompanied by a citation to World Gold Council and, where appropriate, to Metals Focus, Refinitiv GFMS or other identified copyright owners as their source. World Gold Council is affiliated with Metals Focus. WGC does not guarantee the accuracy or completeness of any information nor accepts responsibility for any losses or damages arising directly or indirectly from the use of this information. This information is for educational purposes only and by receiving this information, you agree with its intended purpose. Nothing contained herein is intended to constitute a recommendation, investment advice, or offer for the purchase or sale of gold, any gold- related products or services or any other products, services, securities or financial instruments (collectively, “Services”). This information does not take into account any investment objectives, financial situation or particular needs of any particular person. Diversification does not guarantee any investment returns and does not eliminate the risk of loss. Past performance is not necessarily indicative of future results. The resulting performance of any investment outcomes that can be generated through allocation to gold are hypothetical in nature, may not reflect actual investment results and are not guarantees of future results. WGC does not guarantee or warranty any calculations and models used in any hypothetical portfolios or any outcomes resulting from any such use. Investors should discuss their individual circumstances with their appropriate investment professionals before making any decision regarding any Services or investments. This information may contain forward-looking statements, such as statements which use the words “believes”, “expects”, “may”, or “suggests”, or similar terminology, which are based on current expectations and are subject to change. Forward-looking statements involve a number of risks and uncertainties. There can be no assurance that any forward-looking statements will be achieved. WGC assumes no responsibility for updating any forward-looking statements.