The World Gold Council (WGC) in its latest report highlighted the quantum of gold holding by the different countries. The WCG key findings are:
India, the world’s largest consumer of gold, has the 11th largest gold reserve, with the current holding secured at 607 tonnes. India’s would have been at the tenth position had the list included only countries. International Monetary Fund (IMF) ranks third on the list with total gold reserves of 2,814 tonnes.
The top spot is occupied by US gold reserves of 8,133.5 tonnes, followed by Germany with 3,369.7 tonnes.
The third and fourth slot is occupied by Germany and France with reserves of around 2,400 tonnes each.
China and Japan have more reserves of the precious metal when compared to India. Mainland China has gold reserves of 1,864.3 tonnes and Japan has gold reserves of 765.2 tonnes.
The World Gold Council (WCG) is the market development organization for the gold industry.
The WCG aims to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market.
The WCG members include gold mining companies of the world.