Who Holds the Most Gold?

In addition to Russia, many countries hold the precious metal. According to the official gold holdings by the World Gold Council, the United States holds the most at 8,133.5 tonnes, representing 75.7 percent of reserves. A large portion of this gold is held at Fort Knox in Kentucky and the West Point depository in New York. The U.S. has possession of even more gold via the Federal Reserve, but it technically belongs to other nations. Germany has nearly 3,400 tonnes, the second highest total in the world and representing 72.8 percent of its reserves.

The top 10 gold holders are listed below, along with the percentage of reserves:

1. United States: 8,133.5 tonnes, 75.7 percent
2. Germany: 3,391.3 tonnes, 72.8 percent
3. IMF: 2,814 tonnes
4. Italy: 2,451.8 tonnes, 72.1 percent
5. France: 2,435.4 tonnes, 70.5 percent
6. China: 1,054.1 tonnes, 1.7 percent
7. Switzerland: 1,040.1 tonnes, 10.6 percent
8. Russia: 957.8 tonnes, 9.5 percent
9. Japan: 765.2 tonnes, 3.2 percent
10. Netherlands: 612.5 tonnes, 59.7 percent

According to data from the Census and Statistics Department of the Hong Kong government, gold imports into mainland China from Hong Kong nearly doubled to an all-time high last year. China, the world’s second-largest economy, imported a record 834,502 kilograms (834.5 metric tons), including scrap and coins, in 2012. In comparison, the nation only imported 431,215 (431.2 metric tons) kilograms the previous year.
Chinese imports in December increased to a fresh monthly record of 114,405 kilograms, compared to 90,764 kilograms in November and 38,650 kilograms in the same period a year earlier. It should also be noted that the imports only represent private demand and does not account for official sector Chinese purchases.
Although the People’s Bank of China has not officially disclosed any changes to its gold holdings in years, it is widely believed that the central bank is purchasing gold to diversify its reserve holdings. The next time China reveals its official gold holdings, it could easily be in the 2,000 to 3,000 tonne range.


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News Source: www.marketwatch.com