The United States holds by far the largest official gold reserves of any country, with more than triple the holdings of second-place Germany.
Quick answer: 1. United States, 2. Germany, 3. Italy, 4. France, 5. Russia, 6. China, 7. Switzerland, 8. Japan, 9. India, 10. Netherlands.
Gold reserves are a key component of national wealth and monetary stability, held by central banks as a store of value and hedge against currency volatility. This list ranks the world's ten countries with the largest official gold reserves, based on data from the World Gold Council. Central banks have been net buyers of gold for over a decade, with China, Russia, and others diversifying away from US dollar reserves. The US and Germany top the list with massive holdings accumulated over decades, while several emerging-economy central banks have been steadily increasing their gold positions in recent years.
The United States holds the world's largest official gold reserves at roughly 8,133 tonnes, a position it has held since the post-war Bretton Woods era. The bulk is stored at Fort Knox, Kentucky, with additional holdings at West Point, Denver, and the Federal Reserve Bank of New York.
Germany holds roughly 3,352 tonnes of gold — the second-largest national reserve. The Bundesbank completed a multi-year repatriation program in 2017, bringing gold stored at the Federal Reserve Bank of New York and the Banque de France back to Frankfurt.
Italy holds roughly 2,452 tonnes of gold, the third-largest national reserve. The Banca d'Italia holds approximately half of its gold domestically, with the rest stored at the Bank of England and the Federal Reserve.
France holds roughly 2,437 tonnes of gold — nearly identical to Italy — stored primarily at the Banque de France's underground vault in Paris. France's gold reserves have been largely unchanged for over two decades.
Russia has been one of the world's most aggressive gold buyers over the past decade, growing its reserves from roughly 800 tonnes in 2010 to over 2,300 tonnes. In 2022, Russia suspended regular reporting of its gold holdings amid Western sanctions.
China holds roughly 2,261 tonnes of gold, a position built through years of steady central bank purchases. The People's Bank of China reports gold reserves periodically, typically adding small amounts in irregular intervals to avoid market disruption.
Switzerland holds roughly 1,040 tonnes of gold, making it the largest gold holder relative to its economy. The Swiss National Bank's gold is held at its own vaults in Bern and Zurich, with the remainder at the Bank of England and the Bank of Canada.
Japan holds roughly 846 tonnes of gold, a far smaller share of its total reserves than most European countries (roughly 5%). The Bank of Japan has not made significant changes to its gold holdings in decades.
India holds roughly 831 tonnes of gold. The Reserve Bank of India has been an active buyer in recent years, including purchases from the IMF in 2009 and periodic market purchases. India also has enormous private gold holdings — the largest in the world — but those are not counted in official reserve figures.
The Netherlands holds roughly 612 tonnes of gold, with about a third stored at De Nederlandsche Bank in Amsterdam and the rest at the Bank of England and the Federal Reserve. The Dutch central bank repatriated some of its gold from New York to Amsterdam in 2014.
| # | Name | Continent | Share of total reserves | Last significant change |
|---|---|---|---|---|
| 1 | United States | North America | ~79% | Stable since 1971 |
| 2 | Germany | Europe | ~75% | Repatriation completed 2017 |
| 3 | Italy | Europe | ~69% | Stable since 1999 |
| 4 | France | Europe | ~68% | Stable since 2004 |
| 5 | Russia | Europe/Asia | ~28% | Suspended public reporting 2022 |
| 6 | China | Asia | ~5% | Steady increases since 2015 |
| 7 | Switzerland | Europe | ~40% | Stable since 2006 |
| 8 | Japan | Asia | ~5% | Stable since 2001 |
| 9 | India | Asia | ~10% | Active buyer since 2009 |
| 10 | Netherlands | Europe | ~68% | Partial repatriation 2014 |
Countries and monetary authorities are ranked by total official gold reserves in metric tonnes, as reported in the World Gold Council's Gold Reserves by Country dataset (latest available figures, updated through mid-2026). The World Gold Council compiles this data from central bank disclosures, IMF International Financial Statistics, and other official sources. Figures include gold held by central banks and government institutions but exclude gold held by private investors, ETFs, or commercial banks. Rankings are based on the most recent publicly reported figures.
The United States has the largest official gold reserves at roughly 8,133 tonnes, according to the World Gold Council. This is more than triple the holdings of second-place Germany.
Central banks hold gold as a strategic reserve asset because it has no counterparty risk, performs well during crises, and serves as a long-term store of value. Gold diversifies reserves away from currency holdings (especially the US dollar) and is often viewed as a hedge against inflation and currency devaluation.
In recent years, the People's Bank of China, the Reserve Bank of India, and the Central Bank of Russia (before suspended reporting) have been the most active buyers. Turkey, Poland, and Kazakhstan have also significantly increased their gold reserves.
The World Gold Council compiles its Gold Reserves by Country dataset from central bank disclosures, IMF International Financial Statistics (IFS), and other official sources. The data is updated monthly and is considered the authoritative reference for official gold holdings.