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Top-10 countries that own the most gold in 2024: US is No 1 with 8,133 tonnes; find out where India ranks

SUMMARY

As Reserve Bank of India (RBI) has initiated the transfer of 100 tonnes of its gold reserves from the United Kingdom, let's take a look at the top-10 countries that own the most gold, according to the World Gold Council as of Q1 2024.

Profile imageBy CNBCTV18.com June 1, 2024, 12:10:29 PM IST (Published)
2 Min Read
Reserve Bank of India (RBI) has initiated the transfer of 100 tonnes of its gold reserves from the United Kingdom. This marks the first repatriation of a portion of its overseas gold reserves since 1991. Prior to this, RBI held about 500 tonnes of gold abroad and 300 tonnes within India. With the repatriation of 100 tonnes, the distribution of gold reserves has now achieved a balanced 50-50 split, with 400 tonnes each in India and abroad. (Image: Reuters)
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Reserve Bank of India (RBI) has initiated the transfer of 100 tonnes of its gold reserves from the United Kingdom. This marks the first repatriation of a portion of its overseas gold reserves since 1991. Prior to this, RBI held about 500 tonnes of gold abroad and 300 tonnes within India. With the repatriation of 100 tonnes, the distribution of gold reserves has now achieved a balanced 50-50 split, with 400 tonnes each in India and abroad. Catch latest news on Exit Polls from the 2024 Lok Sabha election here (Image: Reuters)

With speculation rife among experts regarding the rationale behind bringing gold back, specifically given the geopolitical developments such as US' derecognition of Russia's foreign exchange reserves. Concerns have been raised about countries looking to store gold domestically. Nonetheless, let's take a look at the top-10 countries that own the most gold.
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With speculation rife among experts regarding the rationale behind bringing gold back, specifically given the geopolitical developments such as US' derecognition of Russia's foreign exchange reserves. Concerns have been raised about countries looking to store gold domestically. Nonetheless, let's take a look at the top-10 countries that own the most gold, according to the World Gold Council as of Q1 2024. (Image: Reuters)

No 1. Country: United States | Gold Reserves in tonnes: 8,133.46 | Gold Reserve in $ millions: 579,050.15
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No 1. Country: United States | Gold Reserves in tonnes: 8,133.46 | Gold Reserve in $ million: 579,050.15 (Image: Shutterstock)

gold bars
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No 2. Country: Germany | Gold Reserves in tonnes: 3,352.65 | Gold Reserve in $ millions: 238,662.64 (Image: Reuters)

No 2. Country: Germany | Gold Reserves in tonnes: 3,352.65 | Gold Reserve in $ millions: 238,662.64 (Image: Reuters)
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No 3. Country: Italy | Gold Reserves in tonnes: 2,451.84 | Gold Reserve in $ million: 174,555.00 (Image: Reuters)

senco gold ipo gmp
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No 4. Country: France | Gold Reserves in tonnes: 2,436.88 | Gold Reserve in $ millions: 173,492.11.

No 5. Country: Russian Federation | Gold Reserves in tonnes: 2,332.74 | Gold Reserve in $ millions: 166,076.25
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No 5. Country: Russian Federation | Gold Reserves in tonnes: 2,332.74 | Gold Reserve in $ millions: 166,076.25 (Image: Reuters)

No 6. Country: China | Gold Reserve in tonnes: 2,262.45 | Gold Reserve in $ millions: 161,071.82 (Image: Reuters)
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No 6. Country: China | Gold Reserve in tonnes: 2,262.45 | Gold Reserve in $ millions: 161,071.82 (Image: Reuters)

No 7. Country: Switzerland | Gold Reserves in tonnes: 1,040.00 | Gold Reserve in $ millions: 69,495.46
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No 7. Country: Switzerland | Gold Reserves in tonnes: 1,040.00 | Gold Reserve in $ millions: 69,495.46

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No 8. Country: Japan | Gold Reserves in tonnes: 845.97 | Gold Reserve in $ millions: 60,227.84

FILE PHOTO: Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London
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No 9. Country: India | Gold Reserves in tonnes: 822.09 | Gold Reserve in $ millions: 58,527.34

spot gold, gold trading, coronavirus
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No 10. Country: Netherlands | Gold Reserves in tonnes: 612.45 | Gold Reserve in $ millions: 43,602.77 (Image: Reuters)

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