Introduction
For years now, gold has been accorded a privileged position. It is considered the backbone of a solid monetary system. Throughout the world, gold is valued not just for its value but also for the role it has played in economic and cultural history. It has historically been an excellent hedge against inflation. Even today, gold activity is closely monitored. According to the recent figures released by the World Gold Council, central banks – mostly from the emerging markets – continue to accumulate gold at a healthy pace:

Country |
Reserves (Tonnes) |
United States |
8,133.5 |
Germany |
3,367.9 |
Italy |
2,451.8 |
France |
2,436.0 |
Russian Federation |
2,183.4 |
China, P.R.: Mainland |
1,900.4 |
Switzerland |
1,040.0 |
Japan |
765.2 |
India |
612.6 |
Netherlands |
612.5 |
1. United States
2. Germany
Germany has the second highest gold reserves at 3,368 tonnes. Germany only keeps about one-third of its gold reserves in its country.
3. Italy
At gold reserves of 2,451.8 tonnes, Italy has also maintained its reserves over the years. Currently, the gold reserves are embattled between the recovery from the Eurozone crisis and the political fray. The future looks uncertain for these gold reserves and the ownership is riddled with questions, but for now, Italy has maintained its position.
4. France
With 2,436 tonnes of gold reserves, France is close on its heels. Reportedly, Bank of France is also working towards boosting its gold bullion services.
5. Russia
At around 2183 tonnes, Russia overtook China as the fifth-largest holder of the yellow metal in 2018 and has maintained the streak.Russia mainly sold U.S.Treasury bonds to buy the billion.
6.China
China holds 1900 tonnes of gold reserves, and this consistent position is because it wants to soften the blow of a slowdown. Even though it was pushed down by a notch by Russia, it is still going steady.
7. Switzerland
Switzerland holds 1040 tonnes of gold reserves. There’s also history here, when it comes to gold. During World War II, the neutral country became the center of the gold trade in Europe, making transactions with both the Allies and Axis powers. Today, much of its gold trading is done with Hong Kong and China.
8. Japan
Japan has also been a consistent presence in this list, currently standing on 765 tonnes of gold.
9. India
India, due to the cultural connotations, is a steady driver of demand for gold. It also happens to hold 612.6 tonnes of gold, beating the Netherlands by just a wee margin.
In India, the gold reserves have been increasing steadily:

10. Netherlands
The Dutch Central bank repatriated a large amount of its gold from the U.S last year. Today it stands at 612.5 tonnes of gold.
Conclusion
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