Gold Reserves of Countries (in metric tons) in 2023
Which nation boasts the largest gold $Gold - Apr 2024(GC2404)$ reserves? ๐ฅ
๐บ๐ธ United States: 8,133
๐ฉ๐ช Germany: 3,353
๐จ๐ณ China: 2,700 *** ๏ผThis is my estimate data, China adds gold holdings for 17th consecutive month๏ผ
๐ฎ๐น Italy: 2,452
๐ซ๐ท France: 2,437
๐ท๐บ Russia: 2,333
๐จ๐ญ Switzerland: 1,040
๐ฏ๐ต Japan: 846
๐ฎ๐ณ India: 804
๐ณ๐ฑ Netherlands: 612
๐น๐ท Turkey: 540
๐ต๐น Portugal: 383
๐บ๐ฟ Uzbekistan: 371
๐ต๐ฑ Poland: 359
๐ธ๐ฆ 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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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.