At long last, the World Gold Council has published their much anticipated report of the top countries in terms of gold holdings in 2014. This year has been an eventful one so far – what with missing airplanes, the Ukraine conflict, the World Cup, and much more -and it’s fascinating to see how certain world powers respond by stocking up on precious metals.Well without further ado, here are the top 10 rankings:
#10: Netherlands (Tonnes: 612.5,54% of reserves)
#9: Japan
#8: Switzerland – This month’s Swiss gold referendum could dramatically force the Swiss Bank to increase its gold holdings in the next several years.
#7: China
#6: Russia – Russia has purchased 54 tons of gold and has now outstripped China in total gold reserves. Analysts see this as a sign the Russian economy is reducing its dependence on the dollar and the euro.
#5: France
#4: Italy
#3: International Monetary Fund
#2: Germany – Interestingly, Germany keeps about one third of its gold ‘at home’, the rest is abroad. 45 percent is in the US Federal Reserve in New York, 13 percent in London, and 11 percent in Paris.
#1: United States (Tonnes: 8,133.5, 72% of reserves) – cue chanting of “U.S.A.! U.S.A.! U.S.A.!…”
See full list on resourceinvestor.com
Photo courtesy of resourceinvestor.com