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World Gold reserves

Vibs

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With global markets on a downward spiral and gold prices touching record highs I decided to check for gold reserves held across the globe. Gold reserves are seen as safe forms of reserves,protected from market fluctuations and changes in exchange rates. Here's what I found.
WORLD OFFICIAL GOLD HOLDINGS
International Financial Statistics, January 2011*
Tonnes % of reserves**
1 United States 8,133.5 75.2%
2 Germany 3,401.8 71.2%
3 IMF 2,827.2 1)
4 Italy 2,451.8 69.6%
5 France 2,435.4 67.2%
6 China 1,054.1 1.8%
7 Switzerland 1,040.1 17.6%
8 Russia 784.1 7.2%
9 Japan 765.2 3.1%
10 Netherlands 612.
11 India 557.7 8.5%
12 ECB 501.4 29.3%
13 Taiwan 423.6 4.8%
14 Portugal 382.5 82.1%
15 Venezuela 365.8 55.2%
16 Saudi Arabia 322.9 3.1%
17 United Kingdom 310.3 17.5%
18 Lebanon 286.8 28.8%
19 Spain 281.6 39.6%
20 Austria 280.0 57.8%
21 Belgium 227.5 38.2%
22 Algeria 173.6 4.6%
23 Philippines 156.5 12.5%
24 Libya 143.8 6.1%
25 Singapore 127.4 2.6%


40 Pakistan 64.4 16.7%

48 Brazil 33.6 0.6%

NOTES
* This table was updated in January 2011 and reports data available at that time. Data are taken from the International Monetary Fund's International Financial Statistics (IFS), January 2011 edition, and other sources where applicable. IFS data are two months in arrears, so holdings are as of November 2010 for most countries, October 2010 or earlier for late reporters. The table does not list all gold holders: countries which have not reported their gold holdings to the IMF in the last six months are not included, while other countries are known to hold gold but they do not report their holdings publicly. Where the WGC knows of movements that are not reported to the IMF or misprints, changes have been made.
**The percentage share held in gold of total foreign reserves, as calculated by the World Gold Council. The value of gold holdings is calculated using the end‐November gold price of $1383.50 per troy ounce (there are 32,151 troy ounces in a metric tonne). Data for the value of other reserves are taken from IFS, table ‘Total Reserves minus Gold’.
 
why do America have all the resources

not fair :\
 
why do America have all the resources

not fair :\

There was a time when world markets were run on bullion. The economic powers of the time amassed reserves only in gold bullions while the rest of us(China, India,Brazil) did not have the capabilities to have such reserves. That's the legacy. Even today when IMF keeps gold reserves up for sale, developed countries are shocked if India or China are the first to buy.
 
why do America have all the resources

not fair :\


Because their leaders think and work for the well being of their country and people for both short term and long term.
 
Because their leaders think and work for the well being of their country and people for both short term and long term.
lol not just gold reserves

they have all the natural resources
 
The gold in America is supposedly kept in Fort Knox but no one has ever seen it in person. There are some quarters who believe that this "american" gold has been swindled.

Even more interesting is how the american government got hold of so much gold. At first they issued a currency which could be exchanged for gold, and when they got hold of the gold they removed the gold standard and passed a law saying the money previously traded for gold cannot be traded back. At the end of the day the government had all the gold and people had all the paper. :cheesy:
 
I am surprised to see UK at 17th rank. Where is all the gold they amassed from all over the world during the time when they had "an empire on which the sun never sets"
 
According to Wikipedia, China produces more Gold than US, but China's gold reserve is less than US.

List of countries by gold production - Wikipedia, the free encyclopedia

But one thing thats unchanging is that India is the largest consumer of Gold but much of it happens to be in the shape of necklases, bangles, anklets in the necks,hands and legs of our women folk.
The reserves will not include the gold openly available in the country in the form of jewellery or any other form of private ownership. China from what I know exports a lot of the gold and makes a clean buck out of it. The only reason it resorts to buying IMF gold is perhaps to indicate it's economic muscle in the world today.
 
German, Italian, IMF gold is also kept in US, along with others.
 
I think if we count total gold public and private then India would be some where near 3-4 place. Any thoughts on this please.
 
?? That's news to me.

German gold came after the war, was decided to keep it there in light of the cold war (wouldn't lose it to a Soviet advance). Others came at that time too. It is not overly publicized for obvious reasons.
 
I think the figures are not correct.

What about civilian holding the Gold (Ornaments, bars etc.):smitten:
Temple reserves in Inda (Tirupati, other south and North India Temples)
 
And Pakistan reserves drops from 19.2% to 16.7% seems zardari had has hands on them as well.
 

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