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- The volume of gold purchased by central banks in 2018 has reached its highest level since the end of the Gold Standard nearly half a century ago.
- This trend continued this year, with February recording the largest number of monthly purchases in four months.
- The United States holds the largest amount of reserves – here are the most backward countries.
In 2018, the volume of gold purchased by central banks has reached its highest level for nearly half a century.
This trend continued this year, with February recording the largest number of monthly purchases in four months. Here is how much each country has held in early April 2019, according to the latest data available from the International Monetary Fund and the World Gold Council.
10. India
Reuters / Danish Siddiqui
Official Gold Funds: 608.7 tons
Percentage of gold foreign exchange reserves: 6.4%
With the slowdown in the global economy, emerging markets have sought to increase their holdings of yellow metal. In India, the reserves have been steadily increasing since last August.
9. Netherlands
Michael Dalder / Reuters
Official Gold Funds: 612.5 tons
Percentage of gold foreign exchange reserves: 65.9%
The Netherlands has also taken steps to bring their gold reserves closer in recent years. In 2014, the Dutch central bank said that the repatriation of part of its assets in New York would have "a positive effect on public confidence".
8. Japan
Reuters
Official Gold Funds: 765.2 tons
Percentage of gold foreign exchange reserves: 2.5%
Japan's share of global foreign exchange reserves reached its highest level in 15 years, at 5.2% last year, according to the IMF. But gold is only a relatively small part of it, about the same percentage as China.
7. Switzerland
KEYSTONE / Martin Ruetschi
Official Gold Funds: 1,040 tons
Percentage of gold foreign exchange reserves: 5.5%
With a population of about 8.4 million inhabitants, Switzerland would have the largest per capita gold reserves.
6. China
REUTERS / Damir Sagolj
Official Gold Funds: 1,874.3 tons
Percentage of gold foreign exchange reserves: 2.5%
While China continues its stimulus package to mitigate the effects of a slowdown expected a long time ago, its central bank is steadily increasing its gold reserves. March marked the fourth consecutive month of gains.
5. Russia
Photo AP / Alexei Druzhinin, Pool
Official Gold Funds: 2,150.5 tons
Percentage of gold foreign exchange reserves: 19.1%
In order to reduce dependence on US assets, Russia has bought more yellow metal. Its reserves have quadrupled in the last decade, according to Bloomberg.
4. France
REUTERS / Jacky Naegelen
Official Gold Funds: 2,436 tonnes
Percentage of gold foreign exchange reserves: 61.1%
Last year, Reuters announced that the Bank of France had begun to improve the quality of its gold reserves. The move was supposed to help him negotiate in the international market.
3. Italy
Bruno Vincent / Getty Images
Official Gold Funds: 2,451.8 tonnes
Percentage of gold foreign exchange reserves: 66.9%
Following the rise of the 5-star populist movement, the future of the yellow metal in Italy seems uncertain. Earlier this month, Rome proposed that the official ownership of the gold reserves be transferred from the Bank of Italy to the public.
2. Germany
AP Photo / dpa / Frank Rumpenhors
Official Gold Funds: 3,369.7 tons
Percentage of gold foreign exchange reserves: 70.6%
Germany has repatriated billions of dollars of gold in 2017, an initiative of central banks in the euro area to boost public confidence. Some of its reserves had already been organized in Paris and New York.
1. The United States
Reuters / David Gray
Official Gold Funds: 8,133.5 tons
Percentage of gold foreign exchange reserves: 74.9%
The United States would hold many more gold reserves than other countries, more than double those of the two following countries. Between 1913 and 1961, the US Federal Reserve had to hold gold equal to 40% of the value of the currency.
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