Global Gold Reserves: Which Countries Hold the Most Gold in 2026?
Total World Gold Reserves
36,000+ tonnes
Central Banks & IMF Holdings
Current Gold Price
$4,166/oz
$144 million per tonne
Total Value
$5.2 Trillion
Official Reserves Worldwide
Top Holder
🇺🇸 United States
8,133.5 tonnes ($1.17T)
💰 Why Do Countries Hold Gold?
Central banks hold gold reserves for multiple strategic reasons: as a hedge against inflation and currency fluctuations, to diversify their reserve portfolios beyond foreign currencies, for geopolitical security during economic sanctions or crises, and to maintain confidence in their monetary systems. Gold's unique properties—limited supply, universal acceptance, and historical stability—make it an enduring store of value for nations worldwide.
Top 50 Countries by Gold Reserves (2025)
Top 10 Countries by Gold Holdings
| Rank | Country | Gold Reserves (tonnes) | % of Forex Reserves | Value (USD) | Per Capita (g) |
|---|
Regional Distribution of Gold Reserves
Gold Reserves by Continent
Top 20 Countries Comparison
Recent Central Bank Buying Activity (2024-2025)
Largest Gold Buyers (2024)
| Country | 2024 Purchases (tonnes) | Total Holdings (tonnes) | % Change | Trend |
|---|---|---|---|---|
| 🇵🇱Poland | +90 | 765 | +13.3% | ↗ Active Buyer |
| 🇹🇷Turkey | +75 | 595 | +14.4% | ↗ Active Buyer |
| 🇮🇳India | +73 | 876 | +9.1% | ↗ Active Buyer |
| 🇨🇳China | +44 | 2,280 | +2.0% | ↗ Steady Growth |
| 🇨🇿Czech Republic | +35 | 52 | +205% | ↗ Rapid Expansion |
| 🇦🇪UAE | +26% growth | 74 | +26.0% | ↗ Major Increase |
| 🇷🇺Russia | -232 (selling) | 2,333 | -9.0% | ↘ Net Seller |
📈 2024-2025 Market Trends
- Record Buying: Central banks added over 1,000 tonnes annually (double the previous decade's average)
- Emerging Markets Leading: Poland became 2024's largest buyer (+90 tonnes), India second (+73 tonnes)
- China's Strategy: Added 331 tonnes from 2019-2024, diversifying from US Treasury holdings
- Russia's Reversal: First-time seller since sanctions, liquidating reserves for budget support
- Price Impact: Gold hit record highs above $4,300/oz in 2025, driven by geopolitical tensions and inflation
- Czech Republic Streak: Extended buying to 21 consecutive months, reaching 52 tonnes total
Gold as Percentage of Foreign Reserves
Countries with Highest Gold % in Reserves
| Country | Gold (tonnes) | % of Total Reserves | Strategy |
|---|---|---|---|
| 🇺🇸United States | 8,133.5 | 70-75% | Legacy holder, unchanged for decades |
| 🇩🇪Germany | 3,351.6 | 68-72% | Europe's largest holder, repatriated 674 tonnes |
| 🇮🇹Italy | 2,451.9 | 65-68% | Third globally, stable holdings |
| 🇫🇷France | 2,437.0 | 64-67% | Banque de France long-term strategy |
| 🇨🇭Switzerland | 1,040.0 | 8% | Sold 66% in early 2000s, still high per capita |
| 🇮🇳India | 876.2 | 9% | Rapid growth from 500t decade ago |
| 🇨🇳China | 2,280.0 | 4.6% | Massive forex reserves ($3T), room to grow |
Historical Context & Special Holdings
Gold Reserves Per Capita (Top Countries)
🏛️ International Organizations
- International Monetary Fund (IMF): 2,814.1 tonnes (unchanged since 2011)
- Bank for International Settlements (BIS): Holds gold through swap operations
- European Central Bank (ECB): Member states collectively hold ~10,800 tonnes
📊 Key Statistics
- Total Above-Ground Gold: 216,265 tonnes (~$31 trillion @ $4,166/oz)
- Total Below-Ground (Unmined): 133,100 tonnes (~$19 trillion estimated)
- Annual Production: ~3,661 tonnes per year globally
- U.S. & Europe Combined: Control over 60% of all official reserves
- Top 10 Countries: Hold ~70% of world's gold reserves
- Fort Knox Holdings: ~4,580 tonnes (56% of US total)
- NY Fed Vault: Stores ~6,200 tonnes (including foreign holdings)
Notable Facts & Trends
🌍 Regional Highlights
- Americas: US dominance (8,133t) with Venezuela (161t) and Brazil (130t) following
- Europe: Legacy holders Germany, Italy, France combined: 8,240 tonnes
- Asia: China (2,280t), India (876t), Japan (846t) lead the region
- Middle East: Saudi Arabia (323t), UAE (74t), Lebanon (287t)
- Emerging Markets: Turkey (595t), Poland (765t), Kazakhstan (387t) rapidly growing
💡 Interesting Facts
- Germany's Repatriation: Moved 674 tonnes from NY Fed 2013-2017 (cost €7M)
- India's 2009 Purchase: Bought 200 tonnes from IMF at $1,045/oz (then record high)
- Switzerland Per Capita: Despite selling 66%, still has ~120g per person
- Germany Per Capita: World's highest among major economies at 40.2g per person
- US Stability: Holdings unchanged for decades, reflecting conservative policy
- China's Opacity: Likely holds more than reported 2,280 tonnes
- Turkey's Commercial Mix: Includes commercial bank gold in official reserves
- Poland's Surge: Went from 103t (2018) to 765t (2024) in 6 years
Official Data Sources:
• World Gold Council - Gold Reserves by Country
• International Monetary Fund (IMF) - International Financial Statistics
• BullionVault - Central Bank Gold Reserves
• Trading Economics - Gold Reserves
Last Updated: January 2026 | Gold Price: $4,166/oz (LBMA benchmark)
Note: Data as of March 2025 for most countries (IMF reports lag by 2 months). Values calculated at $144 million per tonne. Some countries may store gold abroad or have unreported holdings.
• World Gold Council - Gold Reserves by Country
• International Monetary Fund (IMF) - International Financial Statistics
• BullionVault - Central Bank Gold Reserves
• Trading Economics - Gold Reserves
Last Updated: January 2026 | Gold Price: $4,166/oz (LBMA benchmark)
Note: Data as of March 2025 for most countries (IMF reports lag by 2 months). Values calculated at $144 million per tonne. Some countries may store gold abroad or have unreported holdings.