20 Countries with largest gold reserves 2016.

golden_grgolden_gr Posts: 664 Bronze ✭✭✭
edited February 2016 in About Gold
Of course on the top are the United States with 8,133.5 metric tons of gold!!! :#




This statistic presents the gold reserves of largest gold holding countries worldwide as of February 2016. The central bank of Germany held approximately 3,381 metric tons of gold.


Gold reserves - additional information

Gold has served as a means of exchange for thousands of years. This is no longer true, yet governments are still adding to their gold reserves. As of October 2015, the United States had the largest gold reserve – more than 8,000 metric tons of gold. This was more than twice the gold reserves of Germany and more than three times the gold reserves of Italy and France. China was ranked fifth for the amount of gold it has on reserve, but more gold is being mined in China than any other country in the world. While the share of gold reserves constituted 73.4 percent of the U.S. central bank holdings in 2015, in China this figure amounted to only 1.8 percent.

Australia on the other hand, is home to the largest gold mine reserves in addition to being the second largest producer of gold. While gold no longer serves as an object of exchange and as a confirmation value, gold remains an investment asset for governments and it could provide a safeguard against inflation or recession. Yet it would not be the best time to do so, as the average price of gold has dropped slightly in the last few years.

Supplementary notes

The source adds the following information: "This table was updated in February 2016 and reports data available at that time. Data are taken from the International Monetary Fund's International Financial Statistics (IFS), February 2016 edition, and other sources where applicable. IFS data are two months in arrears, so holdings are as of December 2015 for most countries, November 2015 or earlier for late reporters. The table does not list all gold holders: countries which have not reported their gold holdings to the IMF in the last six months are not included, while other countries are known to hold gold but they do not report their holdings publicly. Where the WGC knows of movements that are not reported to the IMF or misprints, changes have been made. "
*Gold has been added to Turkey’s balance sheet as a result of a policy accepting gold in its reserve requirements from commercial banks. Please see this link for information on this policy actio.

source: statista.de

Comments

  • GoldIsCurrencyGoldIsCurrency Posts: 1,814 Gold ✭✭✭✭✭
    edited February 2016
    @golden_gr In 1950 USA had more than 20,000 tonnes but by 1971 their reserves dropped to just over 9,000 tonnes. Knowing that provides a better understanding of one of the reasons why the Nixon shock of removing the USD off the Gold Standard came about. I would say the problem realized was pegging the USD to a static $35 per ounce gold price... Over the same period from 1950 to 1971 Germany's gold reserves grew from zero to 3600 tonnes, Italy from 227 to over 2500 tonnes, France from 558 to 3,100 tonnes and Netherlands from 280 to over 1,700 tonnes.
  • MR_LAVOIEMR_LAVOIE Posts: 25 Copper ✭✭
    Meanwhile Canada has been selling off its reserves.....makes no sense.
  • rohanibuang61rohanibuang61 Posts: 2,379 Gold ✭✭✭✭✭
    @golden_gr Just wondering how accurate the data is as China never disclosed their actual Gold reserve and never export from their domestic gold mining.
    - Some reliable internet reports shown even the Fort Knox gold reserve is questionable.
    - Germany is having problem to get their gold back
    - Still we don't know what is happening behind
    - So my sincere suggestion to myself is just keep on buying whatever I can with BitGold as BitGold is utmost sincere when dealing even with a gram of gold.
  • SashSash Posts: 7 Tin ✭
    edited February 2016
    China's and Russia's real gold reserves are not disclosed, along with the gold mining companies they own and the amount of gold still available under earth to be recovered.

    The same gold formed into (paper certs/bonds/other derivatives) have been sold, and re-sold multiple times.

    The Gold sitting on US soil isn't owned by the US, as @rohanibuang61 pointed out, Germany is having tough times trying to get it's gold back from the US where the US doesn't have the gold to return. Instead they are re-smelting someone elses gold into new bars with lower purity than originally received by Germany after WW2.

    There is a lot of information on the web that questions the gold reserve of the US.


  • golden_grgolden_gr Posts: 664 Bronze ✭✭✭
    edited February 2016
    @sash @rohanibuang61 how sure are you about China's (and Russia's) data?

    Anyway all data are taken from International Monetary Fund's (IMF), International Financial Statistics (IFS) and World Gold Council.
  • golden_grgolden_gr Posts: 664 Bronze ✭✭✭
    edited February 2016
    Latest World Official Gold Reserves (Published 4th February 2016) at World Gold Council
    You can download it here
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @golden_gr @Sash @rohanibuang61 @MR_LAVOIE @BigD

    As a US citizen I feel compelled to comment …

    1) The amount of gold listed for the US would be amount held by the US Treasury as owned by the US government (if you can't trust the US government to tell the truth, who can you trust).

    2) Concerning the amount of gold that has been "sold, loaned, lost, etc. muliple times", that would have to be in commercial bank vaults because … see 1) above
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    *** SARCASM ALERT ***
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    I really like the fact that 100% of customer gold is allocated in the BRINKS vaults for BitGold customers.

    http://support.bitgold.com/customer/portal/articles/1946269

    Every metric gram, kilogram, or tonne of gold that a BitGold user has acquired through BitGold is owned and allocated to the customer. BitGold Corp. terms state that all customer assets are held by BitGold Corp. as bailee for the benefit of customers. BitGold never deals in unallocated gold (a system used by banks or other organizations to provide the purchaser with notional gold).
  • rohanibuang61rohanibuang61 Posts: 2,379 Gold ✭✭✭✭✭
    @golden_gr Truely I have no interest on Government gold reserve but as a citizen we ought to know whether the Government is doing the right things for the people or safeguarding certain sector of people.

    - In today world, we see cronies, collusion, corruption, nepotism and manipulation placed an important roles in the Global
    Politics and Economies.
    - Out 400 million American, the President only comes from very minor same circle same everywhere globally.
    - Who created the Federal Reserve, separate the Dollar from Gold and follow worldwide and also created World War.

    - Who created the IMF, World Bank, Jakyll Island Meeting, Bretton Wood Agreement and the worse part separating Gold
    with paper currency. Possibly 100 pages of Book still isn't enough just for this topic.
    - Has gold been audited in every nation.
    https://www.bullionstar.com/blogs/koos-jansen/second-thoughts-us-official-gold-reserve-audits/

    I think the above is justifiable for us to concern how the world is manipulated that make China and Russia realized not to disclosed true facts and just creating fictitious figure when dealings with the sharp teeth monster.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,814 Gold ✭✭✭✭✭
    edited February 2016
    @MR_LAVOIE Yup, the Canadian government is an embarrassment for us Canadians when it comes to selling off almost all of our used to be 1023 tonnes of gold down to 1.7 tonnes is it now? It makes me sick to my stomach to think of the liability they leave the good citizens of Canada holding a useless bag of bonds instead. Ignorant and clueless.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    edited February 2016
    @BigD at least the Canadian government admitted selling off the gold …
  • GoldIsCurrencyGoldIsCurrency Posts: 1,814 Gold ✭✭✭✭✭
    edited February 2016
    @79Au197 lol True enough, we are too honest which is a fault that gets us into trouble at times. Kind of like the trouble of selling off all of our gold to hold some useless paper.
  • golden_grgolden_gr Posts: 664 Bronze ✭✭✭
    edited February 2016
    Very insightful @rohanibuang61 !

    I want to believe that the most of us we know some things about FED, IMF, World Bank, Rockefeller and Rothschild families etc... Unfortunately the world is manipulated, that's not something new.

    About China and Russia maybe you have right. Probably they are not disclosed true facts.
    Who knows the truth; for sure not us.

    By the way, make a resource and look for those two guys Benjamin Fulford and Martin Armstrong you will find out very interesting thinks.
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