20 nations with the world's largest gold reserves
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China and India remain the cultural heartlands of gold, generating 55 per cent of global jewellery demand and 49 per cent of global demand, says the World Gold Council.
The global demand for gold in 2011 rose to 4,067.1 tonnes worth an estimated $205.5 billion - the first time that global demand has exceeded $200 billion and the highest tonnage level since 1997, according to the WGC.
The main driver for this increase was the investment sector where annual demand was 1,640.7 tonnes up 5 per cent on the previous record set in 2010 and with a value of $82.9 billion.
Here's a look at 20 nations with the highest gold reserves...
1. United States
Gold holdings: 8,133.5 tonnes
Percentage of foreign reserves in gold: 74.5%
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Image: Gold earrings are seen on display at a store in New York.
Photographs: Shannon Stapleton/Reuters.
20 nations with the world's largest gold reserves
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2. Germany
Gold holdings: 3,396.3 tonnes
Percentage of foreign reserves in gold: 71.4%
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Image: People walk through the jewellery area at a shopping store in Berlin.
Photographs: Tobias Schwarz/Reuters.
20 nations with the world's largest gold reserves
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3. Italy
Gold holdings: 2,451.8 tonnes
Percentage of foreign reserves in gold: 71.0%
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Image: Gold necklaces are pictured in a window at the Vicenza Oro Choice exposition in Vicenza.
Photographs: Alessandro Garofalo/Reuters.
20 nations with the world's largest gold reserves
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4. France
Gold holdings: 2,435.4 tonnes
Percentage of foreign reserves in gold: 71.1%
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Image: A man looks at jewels displayed for auction after being pawned by their owners at the Credit Municipal public pawnbroker in Nice.
Photographs: Eric Gaillard/Reuters.
20 nations with the world's largest gold reserves
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5. China
Gold holdings: 1,054.1 tonnes
Percentage of foreign reserves in gold: 1.6%
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Image: A sales representative poses behind a nine-tael 24K gold in the shape of a dragon forming the numerals 2012.
Photographs: Bobby Yip/Reuters.
20 nations with the world's largest gold reserves
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Switzerland
Gold holdings: 1,040.1 tonnes
Percentage of foreign reserves in gold: 16.3%
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Image: A watch is displayed in a glass cabinet at a newly opened shop of Swiss luxury brand Piaget at the Bahnhofstrasse in Zurich.
Photographs: Arnd Wiegmann/Reuters.
20 nations with the world's largest gold reserves
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7. Russia
Gold holdings: 883.3 tonnes
Percentage of foreign reserves in gold: 9.1%
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Image: UAZ automobile exhibit, made amber and which costs about $650,000, is displayed during the Junwex Petersburg jewelry exhibition in St. Petersburg.
Photographs: Alexander Demianchuk/Reuters.
20 nations with the world's largest gold reserves
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8. Japan
Gold holdings: 765.2 tonnes
Percentage of foreign reserves in gold: 2.9%
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Image: Second hand gold jewellery items are displayed at Ginza Tanaka store in Tokyo.
Photographs: Yuriko Nakao/Reuters.
20 nations with the world's largest gold reserves
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9. Netherlands
Gold holdings: 612.5 tonnes
Percentage of foreign reserves in gold: 59.8%
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Image: Figurines in 24K gold.
Photographs: Bobby Yip/Reuters.
20 nations with the world's largest gold reserves
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10. India
Gold holdings: 557.7 tonnes
Percentage of foreign reserves in gold: 9.2%
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Image: A bejeweled bride attends a mass marriage ceremony in Gujarat.
Photographs: Amit Dave/Reuters.
20 nations with the world's largest gold reserves
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11. Taiwan
Gold holdings: 422.4 tonnes
Percentage of foreign reserves in gold: 5.4%
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Image: A shopkeeper poses with gold rings inside a jewellery shop in Taipei.
Photographs: Nicky Loh/Reuters.
20 nations with the world's largest gold reserves
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12. Portugal
Gold holdings: 382.5 tonnes
Percentage of foreign reserves in gold: 90.5%
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Image: A general view shows jewellery and watches displayed in glass cabinets at a newly opened shop of Swiss luxury brand Piaget at the Bahnhofstrasse in Zurich.
Photographs: Arnd Wiegmann/Reuters.
20 nations with the world's largest gold reserves
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13. Venezuela
Gold holdings: 372.9 tonnes
Percentage of foreign reserves in gold: 72.4%
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Image: A Caravaca cross hangs down the back of a man during a spiritual ceremony believed to promote good health as part of the annual religious festival of Maria Lionza.
Photographs: Jorge Silva/Reuters.
20 nations with the world's largest gold reserves
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14. Saudi Arabia
Gold holdings: 322.9 tonnes
Percentage of foreign reserves in gold: 2.9%
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Image: A salesman arranges gold necklaces at a jewellery shop in downtown Riyadh.
Photographs: Fahad Shadeed/Reuters.
20 nations with the world's largest gold reserves
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15. United Kingdom
Gold holdings: 310.3 tonnes
Percentage of foreign reserves in gold: 16.2%
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Image: An art nouveau Spanish brooch from the 1910's, made from 18-carat gold and set with opals and worth 36,000, is displayed at Bentley and Skinner jewellers in London.
Photographs: Suzanne Plunkett/Reuters.
20 nations with the world's largest gold reserves
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16. Lebanon
Gold holdings: 286.8 tonnes
Percentage of foreign reserves in gold: 29.7%
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Image: A model presents a creation by jewellery designer Mukhi during a show at Joaillerie Liban Exhibition 09 in Beirut.
Photographs: Jamal Saidi/Reuters.
20 nations with the world's largest gold reserves
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17. Spain
Gold holdings: 281.6 tonnes
Percentage of foreign reserves in gold: 29.7%
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Image: This set of eight ruby and diamond stars, made in the mid 19th century, originally in the collection of her Majesty Maria Isabella II, Queen of Spain.
Photographs: Reuters.
20 nations with the world's largest gold reserves
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18. Austria
Gold holdings: 280 tonnes
Percentage of foreign reserves in gold: 55.6%
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Image: Prehistoric gold spirals are displayed at the museum of natural history in Vienna.
Photographs: Lisi Niesner/Reuters.
20 nations with the world's largest gold reserves
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19. Belgium
Gold holdings: 227.5 tonnes
Percentage of foreign reserves in gold: 38.5%
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Image: A diamond necklace owned by Princess Grace of Monaco is displayed at the Diamond Divas exhibition in Antwerp.
Photographs: Reuters.
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