Top 10 countries with the largest gold reserves in 2024—check India’s rank

However, officials officially abandoned this practice in the 1970s, and now central banks around the world accumulate most of the gold as reserves.

The global central banks recently reportedly added a net 37 tonnes to official reserves, representing a 206% month-over-month increase and the highest monthly total since January 2024, as per the IMF.

Following a record-breaking start to the year, there was a slight slowdown in gold purchases by global central banks in the second quarter of 2024, with a net purchase of 483 metric tonnes of gold, combined with Q1 net purchase, which is still 5% higher than in H1 2023, according to the World Golf Council.

Central bank gold demand in H1 was the highest on record. (Source: World Gold Council)
*Data as of 30 June 2024.*

Gold reserves play a significant role in international trade and finance, enhancing a country’s creditworthiness and influencing its position in the global economic system.

Top 10 countries with the largest gold reserves, as of 2024:

It’s noteworthy to mention that the United States has the largest gold reserves, nearly as many as the combined total of the next three countries: Germany, Italy, and France.

Here are the current rankings of gold reserves by country in Q2 2024, as reported by the World Gold Council.