The Top 10 Countries By Gold Reserves In 2024 (& Who's Adding Most)

Central banks hold gold reserves due to their safety, liquidity, and return characteristics, with the United States having the most gold reserves at 8,133 tonnes valued at $579 billion. Amid escalating geopolitical tensions, interest in gold purchases is rising, particularly among countries seeking to diversify their reserves away from the dollar. Russia and China lead in gold purchases, with Russia's reserves jumping from 1,035 tonnes in 2013 to 2,333 in 2023, and China's reserves rising from 1,054 tonnes to 2,235 in 2023. In third place, Türkiye increased its reserves from 116 tonnes in 2013 to 540 tonnes in 2023. The figures come from the World Gold Council and were compiled by Visual Capitalist's Bruno Venditti. The top ten countries by total gold reserves as of May 2024 include the United States, Germany, Italy, France, China, Japan, Switzerland, Russia, India, and South Korea. These countries are significant owners of gold, accounting for approximately a fifth of all the gold mined throughout history. The increased interest in gold purchases is driven by discussions around de-dollarization and rising geopolitical tensions. Central banks, particularly those of Russia and China, have bought gold at the fastest pace in the past decade.