Which country holds the most gold?

The United States holds the largest gold reserves at 8,133 tonnes — approximately 70.4% of its total foreign reserves. Germany is second with 3,352 tonnes, followed by Italy (2,452t), France (2,437t), and Russia (2,333t). The US has held the top position since the post-World War II Bretton Woods era.

How much gold do central banks hold in total?

Central banks collectively hold approximately 36,500 tonnes of gold — roughly a fifth of all gold ever mined. They have been net buyers of gold every year since 2010, a streak of 16 consecutive years. 2022 saw record net purchases of approximately 1,136 tonnes, and purchases exceeded 1,000 tonnes for a third consecutive year in 2025.

Are central banks still buying gold?

Yes. Central banks purchased approximately 850 tonnes of gold in 2025, the 4th highest annual total on record despite record-high gold prices above $3,000 per ounce. The buying trend is structural — driven by de-dollarisation strategies and reserve diversification — not tactical. Poland, India, China, and Turkey have been among the most consistent recent buyers.

Does China report its true gold reserves?

China's officially reported gold reserves of approximately 2,279 tonnes are widely believed to significantly understate actual holdings. China reports to the IMF infrequently and has a history of making large, sudden upward revisions (e.g. a 600-tonne jump in 2015). Analysts at the World Gold Council and independent researchers estimate China's true holdings may be 3,000-5,000 tonnes or higher, but this cannot be verified from public data.

Central Bank Gold Reserves

Complete world rankings — every reporting country, tonnes held, buying and selling trends. The most comprehensive free gold reserve data on the internet.

📅 Data as of: 2026-03-31🔄 Last reviewed: 2026-08-02📊 Source: IMF IFS / World Gold Council🌍 Coverage: 89 countries✏️ Human-verified — Editorial policy →

Total global holdings

36,500t

≈17% of all gold ever mined

Net buying streak

16 years

Consecutive years of buying (2010–2025)

2025 net purchases

~850t

4th highest year on record despite record prices

Largest single holder

United States

8,133t — 70.4% of its reserves

Total Global Holdings — 10-Year Trend

Tonnes · All central banks combined

Central banks have been net buyers every year since 2010. Source: World Gold Council / IMF IFS.

Net Central Bank Purchases — Quarterly

▲ Buying▼ Selling

2022 +1136t

2023 +1037t

2024 +1045t

2025 +850t

Gold Reserves by Country — Full Rankings

Click any column header to sort

89 countries

#↑	Country	Region	Tonnes⇅	% Reserves⇅	YoY Change⇅	Trend
1	🇺🇸United States	Americas	8,133.462	83.32%	-0.04t	● Stable
2	🇩🇪Germany	Europe	3,350.253	82.9%	-1.25t	● Stable
3	🇮🇹Italy	Europe	2,451.837	80.06%	+0.04t	● Stable
4	🇫🇷France	Europe	2,437	80.66%	+0.1t	● Stable
5	🇨🇳China	Asia-Pacific	2,346	9.14%	+33.86t	▲ Buying
6	🇷🇺Russia	Asia-Pacific	2,292	44.92%	-31.15t	▼ Selling
7	🇨🇭Switzerland	Europe	1,039.937	14.1%	-0.06t	● Stable
8	🇮🇳India	Asia-Pacific	880.52	18.51%	+58.42t	▲ Buying
9	🇯🇵Japan	Asia-Pacific	845.973	9.12%	+0.07t	● Stable
10	🇵🇱Poland	Europe	632	29.57%	+189.64t	▲ Buying
11	🇳🇱Netherlands	Europe	612.5	72.5%	-0.05t	● Stable
12	🇹🇷Turkey	Europe	532.7	59.4%	-45.15t	▼ Selling
13	🇪🇺European Central Bank	Europe	508.413	53.39%	+1.91t	● Stable
14	🇹🇼Taiwan	Asia-Pacific	423.9	9.3%	+1.54t	● Stable
15	🇺🇿Uzbekistan	Asia-Pacific	423	87.1%	+49.54t	▲ Buying
16	🇵🇹Portugal	Europe	382.7	77.9%	+0.06t	● Stable
17	🇰🇿Kazakhstan	Asia-Pacific	361.2	77.8%	+60.59t	▲ Buying
18	🇸🇦Saudi Arabia	Middle East	323.1	8.7%	-0.03t	● Stable
19	🇬🇧United Kingdom	Europe	310.3	21.1%	-0.01t	● Stable
20	🇱🇧Lebanon	Middle East	286.8	81%	+0.03t	● Stable
21	🇪🇸Spain	Europe	281.6	32.1%	-0.02t	● Stable
22	🇦🇹Austria	Europe	280	74%	+0.02t	● Stable
23	🇹🇭Thailand	Asia-Pacific	234.5	11.9%	+0.02t	● Stable
24	🇧🇪Belgium	Europe	227.4	57.8%	0t	● Stable
25	🇸🇬Singapore	Asia-Pacific	197.1	6.3%	+66.45t	▲ Buying
26	🏳Azerbaijan	Asia-Pacific	178.1	35.89%	—	● Stable
27	🇮🇶Iraq	Middle East	174.6	25.4%	+28.71t	▲ Buying
28	🇩🇿Algeria	Africa	173.6	38.6%	-0.04t	● Stable
29	🇧🇷Brazil	Americas	172.4	6.8%	+42.84t	▲ Buying
30	🇻🇪Venezuela	Americas	161.2	92.4%	+0.02t	● Stable
31	🇱🇾Libya	Africa	146.7	20.5%	+30.05t	▲ Buying
32	🇵🇭Philippines	Asia-Pacific	133.5	18.8%	-24.19t	▼ Selling
33	🇪🇬Egypt	Africa	129.6	37.4%	-2.99t	● Stable
34	🇸🇪Sweden	Europe	125.7	24.2%	+0.02t	● Stable
35	🇿🇦South Africa	Africa	125.5	23.9%	+0.1t	● Stable
36	🇲🇽Mexico	Americas	120.1	6.6%	+0.05t	● Stable
37	🇶🇦Qatar	Middle East	115.2	30.1%	+15.53t	▲ Buying
38	🇬🇷Greece	Europe	114.7	67.9%	+0.41t	● Stable
39	🇭🇺Hungary	Europe	110	22.6%	+15.51t	▲ Buying
40	🇰🇷South Korea	Asia-Pacific	104.5	3.5%	+0.05t	● Stable
41	🇷🇴Romania	Europe	103.6	16.9%	-0.07t	● Stable
42	🇮🇩Indonesia	Asia-Pacific	87.043	8.7%	+8.44t	▲ Buying
43	🇨🇿Czech Republic	Europe	80.8	6%	+46.84t	▲ Buying
44	🇦🇺Australia	Asia-Pacific	79.873	16.77%	-0.23t	● Stable
45	🇰🇼Kuwait	Middle East	78.976	22.8%	-0.22t	● Stable
46	🏳United Arab Emirates	Middle East	75.306	3.71%	—	● Stable
47	🏳Jordan	Middle East	70.825	39.61%	—	● Stable
48	🇩🇰Denmark	Europe	66.548	7.55%	-0.05t	● Stable
49	🇵🇰Pakistan	Asia-Pacific	64.803	35.18%	+0.2t	● Stable
50	🇦🇷Argentina	Americas	61.739	21.87%	+0.04t	● Stable
51	🏳Cambodia	Asia-Pacific	56.121	29.57%	—	● Stable
52	🇧🇾Belarus	Europe	53.874	53.06%	+10.87t	▲ Buying
53	🇷🇸Serbia	Europe	53.809	27.01%	+13.31t	▲ Buying
54	🏳Kyrgyzstan	Asia-Pacific	47.811	81.08%	—	● Stable
55	🇲🇾Malaysia	Asia-Pacific	43.856	5.13%	+4.96t	▲ Buying
56	🇫🇮Finland	Europe	43.762	28.57%	-5.34t	▼ Selling
57	🇧🇬Bulgaria	Europe	41.041	66.32%	+0.94t	● Stable
58	🇵🇪Peru	Americas	34.67	5.41%	-0.03t	● Stable
59	🇸🇰Slovakia	Europe	31.694	25.32%	-0.01t	● Stable
60	🇺🇦Ukraine	Europe	27.371	7.79%	+0.27t	● Stable
61	🇪🇨Ecuador	Americas	26.281	35.42%	-0.02t	● Stable
62	🏳Bolivia	Americas	22.5	85.18%	—	● Stable
63	🇲🇦Morocco	Africa	22.117	6.57%	+0.02t	● Stable
64	🇳🇬Nigeria	Africa	21.63	6.41%	+0.23t	● Stable
65	🏳Ghana	Africa	19.2	33.98%	—	● Stable
66	🏳Guatemala	Americas	15.508	6.94%	—	● Stable
67	🏳Bangladesh	Asia-Pacific	14.281	7.03%	—	● Stable
68	🏳Cyprus	Europe	13.872	67.12%	—	● Stable
69	🏳Mauritius	Africa	12.416	18.73%	—	● Stable
70	🏳Ireland	Europe	12.037	13.07%	—	● Stable
71	🏳Paraguay	Americas	8.193	11.91%	—	● Stable
72	🏳Nepal	Asia-Pacific	7.988	5.59%	—	● Stable
73	🏳Mongolia	Asia-Pacific	7.88	17.7%	—	● Stable
74	🏳Georgia	Asia-Pacific	7.138	16.74%	—	● Stable
75	🏳North Macedonia	Europe	6.893	16.91%	—	● Stable
76	🏳Tunisia	Africa	6.843	10.61%	—	● Stable
77	🏳Oman	Middle East	6.728	5.17%	—	● Stable
78	🏳Latvia	Europe	6.656	15.73%	—	● Stable
79	🏳Lithuania	Europe	5.816	11.59%	—	● Stable
80	🏳Colombia	Americas	4.675	1.05%	—	● Stable
81	🏳Bahrain	Middle East	4.665	12.09%	—	● Stable
82	🏳Brunei	Asia-Pacific	4.548	12.2%	—	● Stable
83	🏳Slovenia	Europe	4.23	17.52%	—	● Stable
84	🏳Albania	Europe	3.732	6.4%	—	● Stable
85	🏳Luxembourg	Europe	2.239	10.76%	—	● Stable
86	🏳El Salvador	Americas	2.096	6.23%	—	● Stable
87	🏳Hong Kong	Asia-Pacific	2.084	0.07%	—	● Stable
88	🇨🇦Canada	Americas	—	0%	0t	● Stable
89	🇳🇿New Zealand	Asia-Pacific	—	0%	0t	● Stable

Data: World Gold Council / IMF IFS · Updated monthly · Some countries report with 1–3 month lag

Holdings by Region

Total tonnes

Americas

8,650t

Europe

14,100t

Asia-Pacific

11,200t

Middle East

1,570t

Africa

680t

Interactive world map coming soon. See full sortable table →

Biggest Buyers — 2024

1India+72.6t

2Poland+89.5t

3Turkey+74.8t

4Azerbaijan+45.2t

5China+44.2t

6Czech Republic+18.9t

7Qatar+18.1t

8Thailand+15t

9Serbia+12.3t

10Hungary+11.4t

Why Do Central Banks Hold Gold?

01

Reserve Diversification

Gold is uncorrelated to any currency. When USD, EUR, or JPY fall, gold typically holds or gains value — making it the ultimate portfolio hedge inside a reserve portfolio dominated by foreign currency bonds.

02

Crisis Insurance

Gold has no counterparty risk. Unlike USD Treasuries or EUR bonds, physical gold in your own vault cannot be frozen, sanctioned, or defaulted on. The 2022 Russia sanctions made this clear to every central bank watching.

03

Confidence Signal

Large gold holdings signal financial strength and monetary credibility to international markets, other central banks, and the IMF. Nations with substantial gold are perceived as having deeper reserve buffers.

04

Inflation Hedge

Over multi-decade time horizons, gold preserves purchasing power. For central banks managing generational wealth, this long-term inflation protection is more relevant than short-term yield considerations.

05

Sanctions Protection

Gold stored domestically cannot be frozen by foreign governments. After Western nations froze $300bn+ of Russian central bank assets in 2022, gold accumulation accelerated globally — especially among non-Western central banks.

From Gold Standard to Today

1944 — Bretton Woods: USD pegged to gold at $35/oz. All currencies pegged to USD. Gold becomes the anchor of the global financial system.

1971 — Nixon Shock: US ends gold convertibility. Fiat money era begins. Central banks no longer legally required to hold gold.

1980s–2000s — Net Sellers: Central banks sell gold to fund operations and diversify into higher-yielding assets. UK sells 395t at near-historic lows (1999–2002).

2010–Present — Net Buyers: Structural shift. Emerging market central banks lead a sustained buying wave, accelerating after the 2022 Russia sanctions shock.

Gold Reserve Facts

The most surprising and important facts about how the world's gold is held.

🇺🇸

Which country has the most gold?

8,133t

The United States holds 8,133 tonnes — more than Germany, Italy, and France combined. US gold represents 70.4% of its total foreign reserves, the highest ratio among large economies.

Stored at Fort Knox, West Point, and the NY Fed vault

🌍

How much of all gold do central banks hold?

17%

Of the estimated 212,000 tonnes of gold ever mined in human history, central banks hold approximately 36,200 tonnes — around 17%. The rest sits in jewellery drawers, ETF vaults, and private safes worldwide.

Jewellery: 46% · Investment: 22% · Technology: 7% · Central banks: 17%

📈

How much gold did central banks buy in their biggest year?

1,136t

In 2022, central banks bought a record 1,136 tonnes of gold — the highest annual total since records began. The trigger: Western nations froze Russia's USD-denominated reserves after the Ukraine invasion, sending a shockwave through central bank reserve strategies globally.

Three consecutive near-record years: 2022, 2023, 2024

🇬🇧

What was "Brown's Bottom"?

$74 billion

Between 1999–2002, UK Chancellor Gordon Brown sold 395 tonnes of the UK's gold at prices between $256–$296 per ounce. At today's prices (≈$4,700/oz), that gold would be worth approximately $74 billion — and the UK pre-announced the sale, pushing prices even lower before selling.

Widely regarded as one of the worst gold selling decisions in modern history

🇨🇦

Which major country holds no gold at all?

Zero

Canada sold its last gold reserves in 2016, becoming the only G7-equivalent nation with zero official gold holdings. Finance Minister Joe Oliver called gold "an archaic asset class." Canada's decision is now frequently cited as an example of misunderstanding gold's role as a non-correlated reserve asset.

New Zealand also holds zero gold — both have since watched gold rise 200%+

🇵🇹

Which country holds the highest share of reserves in gold?

75.1%

Portugal holds 382.6 tonnes of gold, representing 75.1% of its total official reserves — the highest ratio in the eurozone. This reflects historical accumulation from Portugal's colonial era. Despite economic pressures during the eurozone crisis (2010–2015), Portugal's gold was never sold.

Netherlands (70.2%) and US (70.4%) are close rivals

🏦

How long have central banks been net gold buyers?

15 years

Central banks shifted from net sellers to net buyers in 2010 and have bought gold every year since — a 15-year consecutive buying streak. Before 2010, they were net sellers for nearly 30 years. The structural shift reflects diversification away from USD reserves and growing geopolitical risk hedging.

2010–2024: Central banks added approximately 8,700 tonnes to global reserves

🇨🇳

Does China report its real gold holdings?

~4,000–5,000t

China officially reports 2,279 tonnes — but analysts widely believe actual holdings are significantly higher, potentially 4,000–5,000+ tonnes when military and strategic reserves are included. China reports infrequently and many believe it accumulates gold quietly before updating figures. Its gold represents just 4.9% of reported reserves, well below peer economies.

PBoC paused official buying disclosures for 6 months in 2024

Your Country's Position

🇳🇿

New Zealand — Central Bank Gold Position

Your selected market

Holdings

Zero

% of Reserves

0%

Global Rank

#89

Trend

● Stable

New Zealand holds no gold reserves. RBNZ's reserves are held entirely in foreign currencies.

Source: Reserve Bank of New Zealand·Last reported: 2026-03-31Full New Zealand gold guide →

Data Sources & Methodology

Primary: IMF IFS

International Monetary Fund International Financial Statistics — official reported gold holdings, updated monthly with a 1–3 month lag.

https://data.imf.org →

Cross-reference: World Gold Council

WGC Gold Demand Trends quarterly reports provide compiled, verified data and additional context on buying/selling trends.

https://www.gold.org →

Update Schedule

Data refreshed monthly, first week of each month. Each data point shows the date last reported by the individual central bank.

Known Gaps

China and Russia report infrequently. Some countries (e.g. North Korea, Iran) do not report to IMF IFS. Actual global totals may be higher.

Data sourced from the World Gold Council and the IMF International Financial Statistics, used for informational and educational purposes with full attribution. Not financial advice. All figures in metric tonnes (1 tonne = 32,150 troy ounces).