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Which country has the most gold?

Which country has the most gold?

Gold, which has been used in bad times, has been hoarded by central banks around the world, which is increasing every year. Last year, gold reserves increased by 650 tonnes.

According to a foreign report, during the global pandemic corona virus, many countries are storing gold back to their countries from central banks, while even before the global pandemic corona virus, the global economy was warned about the epidemic. Countries had already started hoarding more gold in their country.

According to a foreign report, 650 tonnes of gold was deposited in central banks around the world in 2019, while the number of gold deposits in 2018 was 656 tonnes, which was the highest amount deposited in the last 50 years.

Attempts are now being made by countries around the world to extract gold from banks, mostly in the world's two largest gold reserves, the foreign report said. Seen in the New York Federal Reserve and the Bank of England.

The first six months of this year saw a significant increase in the value of gold. On the other hand, the Central Bank of Turkey has purchased 148 tons of gold this year, making Turkey the largest buyer of gold this year. 

"Gold is a symbol of the country's power," said Adam Glapinski, governor of the Polish National Bank.

The following is a list of the 20 countries with the largest gold reserves in the world, according to new data compiled by the World Gold Council:

1. The United States: 

The United States is the world's largest gold producer with 8,133.5 tons of gold, or 78.9 percent of its foreign exchange reserves. The United States has the equivalent of three countries' total gold.

2. Germany: 

Germany, with 3,363.6 tonnes of gold accounting for 75.2% of its foreign reserves. Between 2012 and 2017, Germany imported about 674 tonnes of gold from Paris and New York, its largest reserves. He had moved back home.

3. The International Monetary Fund (IMF): 

The International Monetary Fund (IMF) is a group of 189 countries that work to foster global monetary co-operation. When it was founded in 1944 it was decided that 25% of initial quota subscriptions and subsequent quota increases were to be paid in gold. That remains the main source of the 2,814 tonnes of gold it holds. The coronavirus pandemic boosted the value of the IMF's gold reserves by $19.3 billion (£15.4bn) in just three months (January to April 2020), and led to calls from charity Oxfam to sell some of the gold in order to "expand debt relief and help poor countries fight the virus and save lives". The IMF has sold gold in the past to help poor nations with huge debts, but there are criteria that countries need to meet for such aid to be released.

4. Italy: 

Italy ranks fourth on this list. Italy has 2,451.8 tons of gold. In terms of foreign reserves, it makes up 70.8% of the world's gold. Like many other countries, Italy does not have its own gold. Is stored in other banks.

5. France: 

France ranks fifth on the list, with 2,436 tonnes of gold, accounting for 65% of its foreign exchange reserves. Most of France's gold was mined in the 1950s and 1960s.

6. Russia: 

Russia ranks sixth on the list, with 2,299.2 tonnes of gold accounting for 22.6% of foreign reserves. Russia's central bank has been the largest buyer of gold for the past seven years and only In two years, its reserves have increased by more than 400 tons.

7. China: 

China ranks seventh on the list, with 1,948.3 tonnes of gold at 3.4%, the world's largest producer, accounting for 12% of global mining production. China is also the largest consumer, with local demand for gold rising due to the growing middle class in China.

8. Switzerland: 

Switzerland has 1,040 tons of gold, compared to 6.5 percent. Switzerland has the largest per capita gold reserves. Most of its gold trade is with Hong Kong and China.

9. Japan: 

Japan ranks ninth on the list, with 765.2 tons of gold, or 3.1 percent, and the world's third-largest economy.

10: India: 

India ranks tenth in this list, with 654.9 tonnes of gold, compared to 7.5 per cent of other countries. India is the second largest consumer of gold.

11: Netherlands: 

The Netherlands takes the number 11 spot on the World Official Gold Holding Chart with 612.5 tonnes of gold in its stocks. In October 2019, it was reported that the Dutch central bank would be transporting 14,000 gold bars, weighing a total of 175 tonnes, to a temporary location in Haarlem, before being permanently moved to the DNB Cash Centre in Zeist.

12. European Central Bank: 

It's not a country but the European Central Bank (ECB) is the central bank of all the European Union countries that have adopted the euro as their currency. It holds 504.8 tonnes of gold in their name, largely as a result of transfers made to the bank by Euro member national central banks at the launch of the Euro. This gold is said to be stored across five locations around the world.

13. Taiwan: 

Taiwan ranks thirteenth in this list, Despite being a small island off the coast of China, Taiwan is sitting on 422.4 tonnes of gold and has held this amount of the precious metal for several years.

14. Turkey: 

Turkey's gold reserves fell by more than 200 tonnes between 2017 and 2019, from 495.6 tonnes to 293.6 tonnes, but rose back up to 412.5 tonnes in 2020. The government was unclear about the reasons for the previous dip, but there's speculation that the central bank may have dug into gold reserves in an attempt to save the lira. Gold is thought to have been discovered in Turkey as early as 9000 BC, but it is only quite recently that it has become of international commercial interest.

14: Kazakhstan: 

Kazakhstan's National Bank increased its gold reserves by more than 100 tonnes in the past three years, in a bid to reduce the country's reliance on the US dollar and neutralize currency risks. The land-locked country, which is currently working to develop its gold mining industry through foreign investors and low government regulation, has an impressive 385.5 tonnes in total gold stocks

15. Portugal:

Portugal has 382.5 tonnes of gold, nearly 50 tonnes more than Uzbekistan. However, the country has battled with economic instability and there have been calls for it to sell off some of its gold reserves to reduce its national debt. Regulations make this easier said than done though and for now Portugal is holding on to its precious asset.

16. Uzbekistan: 

A mineral-rich country, Uzbekistan has a wealth of resources including petroleum, natural gas, gold, silver and uranium. As well as being a top producer of the precious metal, the country plans to continue increasing its gold reserves to 430 tonnes by 2024, a further increase of almost 100 tonnes. According to reports from international media sources, Uzbekistan may start with a purchase of 81.37 tonnes of gold this year.

17: Saudi Arabia: 

The oil-rich country of Saudi Arabia has the second highest gold reserves in the Middle East after Turkey, with 323.1 tonnes of the precious metal. As part of plans to diversify its economic base and place less of a reliance on oil, Saudi Arabia is also committed to boosting its gold mining industry. Although overshadowed by oil, this is not a new endeavour, as archaeological studies show that gold began being mined in the country up to 5,000 years ago.

18. United Kingdom:

The UK has its fair share of gold reserves too, with 310.3 tonnes of the precious metal held in its name. Despite there being no active gold mines in the UK, it has long been seen as the centre of the wholesale gold market and a major importer and exporter of the metal. However, this is a much-reduced reserve after the nation's Chancellor at the time (and later prime minister) Gordon Brown made the controversial decision to sell more than half of the UK's gold reserves – 401 tonnes – for $3.5 billion in 1999

19. Lebanon:

Lebanon is currently holding on to 286.8 tonnes of gold and it has the third largest gold reserves in the Middle East, after Turkey and Saudi Arabia. Although Lebanon has a mining industry, gold is not one of its abundant natural resources.

20. Spain:

Spain is currently holding on to 281.6 tonnes of gold. Gold mining has been going on in Spain since pre-Christian times and it was the Romans who turned it into a flourishing industry. There is now a renewed interest in Spanish gold with a lot of prospector activity being carried out in the hope of being able to strike it lucky

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