By Mashum Mollah
Gold has been a popular investment vehicle for many years, and recently the demand for it has increased significantly. As well as private investors looking to invest in gold, many countries keep gold reserves and actively look to grow these, increasing overall demand.
The recent global pandemic has added to the demand for gold as many people switch away from stocks and shares and invest in this precious metal, which is an excellent hedge against inflation. Below are the countries that have the highest reserves of gold globally, so you know where most of the gold has been mined in the world.
4 World’s Top Gold Purchasers
In terms of precious material, the noble metal gold is always the best option. When you look down at the history of civilizations and humankind, you will see how gold is changing the economy of the nations. Even today some of the countries are primarily focusing on purchasing gold.
Check out the world’s four top gold purchasers in the world.
1. The USA
The USA likes to consider itself as number one for everything, but they are at the top of the pile when it comes to gold reserves. The USA is miles in front of its closest rivals regarding gold reserves, and as of April 2021, they have amassed 8,134 tonnes of the precious shiny yellow metal. With each tonne of gold worth more than US$41,000,000, they have a lot of wealth in their gold reserves.
With the gold price being affected by supply and demand, and with demand up, you may wish to invest in this precious metal yourself. Aside from the US, there are other countries that can offer you great prices for this most sought out metal. For instance, if you live in Australia, you can easily find dealers, where you can buy and sell gold Adelaide investors would want. Finding dealers in your chosen country is simple and can be done online.
2. Germany
Gold is always the best investment in terms of its economic value and perspective. And Germany stands in the second position in this counting list.
The next most significant stockpile of gold in the world is held by Germany, although this is significantly less than what the USA has in its reserves. As of April 2021, Germany held 3,364 tonnes of gold in its reserve, but the percentage of gold in its total reserves was like the USA.
The USA has 79% of its reserves invested in gold, while Germany has %76. Germany has been repatriating its gold reserves that have been held in other countries such as France and the USA since 2013, with the operation being completed in 2017.
3. Italy
Another European country in the top five, Italy, is in third place when it comes to stocking up on gold, with a whopping 2,452 tonnes of gold in its reserves. They have long held high reserves of gold in their central bank, which has been an excellent way to deal with fluctuating US dollar prices.
The original Italians, the Romans, gave us the gold-silver ratio, which dictated how many ounces of silver it took to purchase an ounce of gold. Although this ratio has changed, it is something still in use today, and the percentage of gold reserves is around 69%.
4. France
France is fourth on the list and has a comparable amount of gold to Italy, with them having around 2,436 tonnes of gold in their reserves. However, the percentage of gold in their reserves is slightly lower than in Italy, with France having 65%.
They have split their gold into two, with 100 tonnes being held in gold coins, while the remaining amount is in the form of gold bullion bars.
With demand looking to increase for gold in the coming years, if you want to invest in it, you should do so quickly before the price increases more.
Conclusion:
Gold is always a favorite for everyone. And these four countries are very serious gold purchasers. Moreover, you want to strengthen your country’s economy. You have to focus on purchasing the noble metal. The value of the gold is less volatile by the country’s economic status change.
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