This article was first published 14 years ago

World's biggest gold reserves; India at 11

Last updated on: August 2, 2011 10:26 IST

Image: An employee of a jewellery shop holds a gold pig.
Photographs: Jo Yong-Hak/Reuters.

Gold has remained one of the most sought after assets in the world. Even in times of economic uncertainty, gold continues to be a safe bet for investors.

A gold reserve is held by a central bank or nation as a valuable resource and as a guarantee to redeem promises to pay depositors, note holders or to secure a currency.

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Image: Gold keys are displayed for customers at a jewellery shop.
Photographs: Jo Yong-Hak/Reuters.

The world's consumption of new gold is about 50 per cent in jewellery, 40 per cent in investments and 10 per cent in industry.

Click NEXT to find out the top 20 holders of gold reserves...

Image: US tops in gold reserves.

1. United States

Gold reserves: 8133.5 tonnes

The United States owns the world's largest gold reserves.

Gold constitutes 74.7 per cent of the nation's foreign exchange reserves.

Data: World Gold Council

Image: Customers walk past a gold replica of a pine tree displayed at a jewellery shop

2. Germany
Gold reserves: 3,401.0 tonnes

In Germany, gold forms 71.7 per cent of the foreign exchange reserves.

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Image: Gold souvenirs are displayed at jewellery shop.
Photographs: Majed Jaber/Reuters.

3. IMF

Gold reserves 2,814.0 tonnes

The International Monetary Fund ranks third in terms of gold reserves.

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Image: Bars of 50 and 100 gram (front) fine gold.
Photographs: Reuters.

4. Italy

Gold reserves: 2,451.8 tonnes

Gold reserves form 71.4 per cent of the total foreign exchange reserves in Italy.

Image: Women look at a jewellery shop.
Photographs: Reuters.

5. France

Gold reserves; 2,435.4 tonnes

France ranks fifth with gold constituting 66.1 per cent of its total forex reserves.

Image: A gold statue of a lion is displayed at a jewellery shop in Hong Kong.
Photographs: Tyrone Siu/Reuters.

6. China

Gold reserves: 1,054.1 tonnes

China, set to overtake India as the world's largest gold consumer is ranked 6th in the world.

Gold forms 1.6 per cent of the country's forex reserves.

Image: A man shows a gold bar to costumers.
Photographs: Beawiharta/Reuters.

7. Switzerland

Gold reserves: 1,040.1 tonnes

Gold constitutes 17.6 per cent of the total forex in Switzerland.

Image: A goldsmith poses with gold bangles in his jewellery shop.

8. Russia

Gold reserves: 830.5 tonnes

Gold forms 7.8 per cent of the total forex in Russia.

Image: Pure gold artifact shaped as Japan's Mount Fuji by Japanese jewellery maker Ginza Tanaka.
Photographs: Yuriko Nakao/Reuters.

9. Japan

Gold reserves: 765.2 tonnes

Gold forms 3.3 per cent of the total foreign exchange reserves in Japan.

Image: Gold turtles are displayed at a jewellery shop.

10. The Netherlands

Gold reserves: 612.5 tonnes

Gold constitutes 59.4 per cent of the total foreign exchange reserves in The Netherlands.

Image: A jewellery shop in Hyderabad.
Photographs: Krishnendu Halder/Reuters.

11. India

Gold reserves: 557.7 tonnes

India, the world's largest consumer of gold ranks 11th in terms of gold reserves. Gold constitutes 8.7 per cent of the total forex reserves.

Image: Gold bars and jewellery are displayed in a shop.
Photographs: Sukree Sukplang/Reuters.

12. European Central Bank

Gold reserves: 502.1 tonnes

European Central Bank has 31.3 per cent of gold as part of its foreign exchange reserves.

Image: A gold necklace creation.

13. Taiwan

Gold reserves: 423.6 tonnes

Another Asian country, Taiwan has 5 per cent of gold as part of its forex reserves.

Image: Gold reserves.

14. Portugal

Gold reserves: 382.5 tonnes

Portugal has 84.8 per cent of gold as a part of its foreign exchange reserves.

Image: Gold bars.

15. Venezuela

Gold reserves: 365.8 tonnes

Venezuela has 64.8 per cent of gold as part of its foreign exchange reserves.

Image: A woman shows a mobile phone purse made of gold.
Photographs: Beawiharta/Reuters.

16. Saudi Arabia

Gold reserves: 322.9 tonnes

Gold constitutes 3.3 per cent of gold as part of its forex reserves.

Image: A visitor looks at a chapel, made of gold, silver and amber.
Photographs: Reuters.

17. United Kingdom

Gold reserves: 310.3 tonnes

The United Kingdom has 16.5 per cent of gold as part of its foreign exchange reserves.

Image: Gold at a record high.
Photographs: Reuters.

18. Lebanon

Gold reserves: 286.8 tonnes

In Lebanon, gold forms 29.6 per cent of the total forex reserves.

Image: Gold jewellery at a shop.
Photographs: Reuters.

19. Spain

Gold reserves: 281.6 tonnes

In Spain, gold constitutes 40.7 per cent of the total forex reserves.

Image: Austrian gold coin.

20. Austria

Gold reserves: 280 tonnes

Austria has 55.4 per cent of gold as part of its forex reserves.

World's biggest gold reserves; India at 11

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