Gold is a very precious metal in world now and it also a safe investment. A ccording to the AMNH almost seventy-eight percent of the world’s yearly supply of gold is used in jewelry and rest goes to electronics and dental and medical uses. The demand of gold is always in peak. Here we are listing top five countries have the most gold reserves.
United States of America
United states of America currently holds 8,133.5 tonnes of gold reserves that will approximately 72.6 percent to its foreign reserves. Newmont Mining is the biggest mining company in US, in 2012 they delivered over 4.98 million ounces of gold and they are responsible for the mining operation in five continents including two of north American continents. United States Bullion Depository in Fort Knox, Kentucky is held the majority of American gold.
Germany is the second largest gold reserves country in the world, they hold 3,384.2 tonnes of gold, which accounts for 67.0% of total foreign reserves. They only keeps 31% of its gold at home and rest being held by New York, London and Paris.
Italy is the third largest gold reserve country in the world they keep 2,451.8 tonnes of gold of gold which accounts 65.9% for foreign reserves. The Italian national bank manages the country’s large gold holdings.
France is the fourth largest gold reserve country in the world and they holds 2,435.4 tonnes of gold,accounts to around 65.3% of its total foreign reserves. France sold 572 tonnes of gold under the central bank gold agreement.
Russia is in fifth position in god reserves, they holds 1,200 tonnes of gold, which account for 12.2% of the country’s foreign reserves. World gold council reported the gold reserves in Russia. Russia securing its foreign reserves in the face of economic sanctions and a recession.