Indian families Collectively, Indian households hold the most gold in the world: approximately 24, 000 metric tons. Most of it is in the form of jewelry used for the Diwali festival and weddings. Global Investors offers exchange-traded funds (ETFs) in addition to mutual funds. Get the information you need about our financial products, from investment objectives, strategies and performance to commissions and fund management.
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The top 10 central banks with the largest gold reserves have remained largely unchanged over the past few years. The United States is in first place with more than 8,000 tons of gold in its vaults — almost as much as the next three countries combined — and represents 79% of total reserves. The only countries where gold represents a higher percentage of reserves are Portugal, with 80.1%, and Venezuela, with 82.4%. The Central Bank of the Netherlands announced that it will move its gold vaults from Amsterdam to Camp New Amsterdam, approximately one hour from the city, citing the onerous security measures of its current location.
As many others have pointed out, this seems strange, given that the bank recently repatriated a large amount of its gold from the United States,. It's no wonder that the Bank of India has one of the largest gold reserves in the world. The South Asian country, home to 1.25 billion people, is the second largest consumer of precious metals and is one of the most reliable drivers of global demand. India's festival and wedding season, which runs from October to December, has historically been a great advantage for Love Trade, the gold.
In seventh place is Switzerland, which actually has the largest per capita gold reserves in the world. During World War II, the neutral country became the center of the gold trade in Europe, making transactions with both the Allies and the Axis powers. Nowadays, much of its gold trade is done with Hong Kong and China. France's central bank has sold little of its gold in recent years.
The current reserves consist of 100 tons of gold coins and the rest of ingots weighing about 12.5 kilograms each. The vaults of the Bank of France in Paris are one of the four designated custodians of the International Monetary Fund (IMF). With the largest official stocks in the world, the U.S. .
It has almost the same amount of gold as the next three countries combined. It also has the third highest allotment of gold as a percentage of its foreign exchange reserves. As far as we know, most of us,. The gold is kept in Fort Knox, Kentucky, and the rest at the Philadelphia Mint, the Denver Mint, the San Francisco Testing Office and the West Point Bullion Depot.
Which state loves gold the most? Well, the state of Texas went so far as to create its own Texas bullion deposit to safeguard gold from investors. What's going on with gold this week? Read the weekly analysis of our investment teams here. While Indians collectively own the most gold in the world, German investors have become the biggest buyers of gold in recent years. One thing investors should know about the SPDR Gold Trust is that it holds physical gold ingots, mainly stored in the London vault of HSBC Bank.