Who holds the world's biggest gold reserves?

NEW YORK (Commodity Online): Following uncertainty in the equity markets and the global economy, countries and organizations believe that Gold is a safe haven and investing in gold is a sure ticket to preserving hard-earned wealth. A store of value and a safe one at that, gold as a commodity has been appreciating and giving investors ample returns barring a few instances.

In fact, the biggest institutional holders of gold—central banks, international entities and governments—are believed to account for approximately 16.5 percent of the world's gold, holding about 30,700 tons.

United States: The United States Bullion Depository in Kentucky—otherwise known as Fort Knox—is the most famous gold stockpile in the world. It holds the majority of the nation’s gold reserves, the remainder of which is held at the Philadelphia Mint, the Denver Mint, the West Point Bullion Depository and the San Francisco Assay Office. Altogether, the total gold reserves of the U.S. equal 8,965.6 tons and would be valued at approximately $522.16 billion in today's market.Germany: The Deutsche Bundesbank, Germany's central bank, has 3,747.9 tons of gold reserves, which are valued at about $218.28 billion. According to the World Gold Council, Germany’s gold coffers account for 71.4 percent of total foreign reserves.

The International Monetary Fund: The International Monetary Fund (IMF) oversees international economic operations of 185 member countries. Its gold policies have changed in the last 25 years, but the reserves remain to stabilize international markets and aid national economies. In one such instance, the IMF sold a portion of its reserves in December 1999 to aid the Heavily Indebted Poor Countries Initiative. The 3,101 tons of IMF Gold would fetch roughly $180.6 billion in the open market.

Italy: The Banca D'Italia manages Italy's foreign reserves, which have been reported at 2,701.9 tons by the World Gold Council and comprise the fourth largest gold reserve in the world. These holdings are worth $138.33 billion and account for 71.2 percent of the country's foreign reserves.

France: The French National Bank, Banque De France, is home to the country's gold holdings, which comprise 66.2 percent of its foreign reserves. With 2,683.8 tons of gold in reserve, France's holdings are worth approximately $156.31 billion.



Source: World Gold Council (data updated on August 2011)