London: Gold has always been considered the safest investment and investors and countries across the world are turning to gold because of the economic crisis caused by the recent coronavirus pandemic.
That is why gold prices are now at all-time highs due to a shift in investor preferences and then tensions in US-China relations.
The World Gold Council has released a list of the countries in the world that have the largest gold reserves.
The United States has the largest gold reserves at 8133.5 tons in August 2020, accounting for 79% of its total reserves, according to the IMF and World Gold Council.
Germany is second with 3363.6 tons (75.6% of reserves), Italy has 2451.8 tons (71.3%), France has 2436 tons (65.5% of reserves), Russia has 2299.9 tons (23.0%) and China has 1948.3 tons or 3.4% of the reserves.
Switzerland has 1040.0 tons or 6.5% of reserves, Japan has 765.2 tons or 3.2% of reserves, India has 657.7 tons ie 7.5% of reserves, Netherlands has 612.5 tons ie 71.4% of reserves and Turkey has 583.0 tons. 37.9% of the reserves, Taiwan has 422.7 tons, or 4.7% of the reserves.
