Which country has how much gold? know how much gold India has
Which country has the most gold in the world? The stronger the country’s gold reserves, the more prosperous and economically stable that country is. Gold has played a direct role in the functioning of the global economy since the late 1800s and early 1900s. Since then, countries around the world have been backing their paper currencies with gold by fixing an exchange rate between their currencies and a fixed amount of gold. Accordingly, the US gold reserves are the largest in the world.you also read this Why is the gold price rising so fast?
Which country has the most gold in the world?
The United States has 8,133.46 tons of gold. Germany has the second largest gold reserves after the United States. Germany has 3,351.53 tons of gold. Italy is in third place with 2,451.84 tons of gold. France is in fourth place with 2,335.85 tons of gold. Russia is in fifth place, while China is in sixth place with 2,264.32 tons of gold in its gold reserves. Japan is in seventh place behind China.
India is ranked eighth behind Japan with 840.76 tons of gold. The Netherlands is ranked ninth behind India with 612.45 tons of gold in its gold reserves. Turkey is ranked 10th with 584.93 tons of gold. So far, about 244,000 metric tons of gold have been discovered in the world. Of this, 187,000 metric tons of gold have been produced, and 57,000 metric tons of gold are still underground.
Most of the gold is mined in China, Australia, and South Africa. In 2016, the United States was the fourth-largest producer of gold. It is worth noting that most of the gold produced today is used in jewelry. Gold is also used in computers, communications equipment, spacecraft, jet engines, and other products.
Countries around the world are hoarding gold for a variety of reasons. The first reason is that gold is a stable and reliable store of value. Holding gold gives a country confidence in its financial system. Gold can be used to borrow money during times of economic uncertainty. In addition, gold has historically helped to support a country’s currency.
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