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Top Ten Gold Reserves Global Central Banks

Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation, and to promote economic stability. Roughly one-fifth of all the gold ever mined.

Gold has been used as a form of currency since ancient times, which eventually led to the establishment of the gold standard. Widely used in the 19th and 20th centuries, the gold standard was a monetary system in which countries ensured the value of their paper money and coins by keeping equivalent values of actual gold under lock and key. The gold standard became less practical as economies grew, and is not currently used by any of the world’s countries. However, many nations still hold significant gold reserves. The top ten central banks with the largest gold reserves have remained relatively the same over the past few years

Largest Gold Reserves (in tons)

  • United States — 8,133
  • Germany — 3,359
  • Italy — 2,452
  • France — 2,436
  • Russia — 2,299
  • China — 1,948
  • Switzerland — 1,040
  • Japan — 846
  • India — 754
  • Netherlands — 612

Gold reserves are a helpful tool for governments, which can purchase large amounts of gold to counteract rising inflation. Additionally, the value of imports and exports from a country is highly connected to the country’s currency. If imports exceed exports, the value of the currency declines, and vice versa. This means that a country that exports gold and has a surplus of gold reserves can often see an increase in the strength of its currency. On the other hand, gold can also reduce the value of the currency used to buy it. If many transactions are made in gold, it can devalue the local currency and cause inflation.

Sri Lanka GOLD Reserves

Gold Reserves in Sri Lanka remained unchanged at 0.47 Tonnes in the second quarter of 2023. The maximum volume of reserves was 23.1 Tonnes and minimum was 0.47 Tonnes.

1 ton = 907.185 Kg

source: World Gold Council

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Top Ten Gold Reserves Global Central Banks

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