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Gold Reserves By Country 2014 – Top 20
China and Russia Add To Their Gold Reserves
Below is a chart showing the gold reserves by country as reported by the World Gold Council:
Chart Courtesy of Nick Laird.
The chart shows that the United States is the largest holder of gold in the world. In the last few years Russia and China have increased their gold reserves significantly. The chart shows China to have the fifth largest holdings of the yellow metal and Russia the seventh largest holdings. A recent Bloomberg report speculates that China may indeed have vaulted into third place in the world gold reserves table.
While Russia and China have been increasing their gold reserves, Western nations, like Cyprus have contemplated sales of their gold. Indeed, the European Union is considering ending a fifteen year restriction on central bank gold selling.
Keep in mind that the gold reserves reported by the World Gold Council are probably subject to adjustment as many central banks are suspected of overstating (United States) or understating (China) their gold reserves. Some countries (Germany) may claim certain gold reserves but may not have physical possession of those reserves. In addition, it is also suspected that gold held by central banks may have been lent or rehypothicated such that they may no longer either have the physical gold or only have a claim on it.
With the potential for currency wars between the Russia and the United States, Russia has been steadily building their gold reserves, while the United States tapers their multi-year/multi-trillion dollar printing quantitative easing scheme.
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