Thank you for the data!
The price of gold $Gold - main 2406(GCmain)$ $VanEck Gold Miners ETF(GDX)$ is likely to rise further, especially considering the significant amount that China has purchased. Given the strategic reserves, economic pillars, the backing of the currency, and even the factor of currency devaluation, the demand for and value of gold are expected to increase.
Gold Reserves of Countries (in metric tons) in 2023
@HONGHAO：Which nation boasts the largest gold $Gold - Apr 2024(GC2404)$ reserves? 🥇 🇺🇸 United States: 8,133 🇩🇪 Germany: 3,353 🇨🇳 China: 2,700 *** （This is my estimate data, China adds gold holdings for 17th consecutive month） 🇮🇹 Italy: 2,452 🇫🇷 France: 2,437 🇷🇺 Russia: 2,333 🇨🇭 Switzerland: 1,040 🇯🇵 Japan: 846 🇮🇳 India: 804 🇳🇱 Netherlands: 612 🇹🇷 Turkey: 540 🇵🇹 Portugal: 383 🇺🇿 Uzbekistan: 371 🇵🇱 Poland: 359 🇸🇦 Saudi Arabia: 323 White Gold Money Gold reserves play a pivotal role in ensuring the economic resilience of a country, serving as a dependable asset during periods of financial instability. During the late 19th and much of the 20th century, the gold standard was a prevailing global practice. Under this system, countries pegged the value of their paper currency to gold by setting a fixed exchange rate between their currency and a defined quantity of gold. Gold holds significance in central bank reserves due to its attributes of safety, liquidity, and return, which align with the primary investment objectives of central banks.
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