World Largest Countries by Gold Reserves 2024 

bandit country in the world

ask GOLDFINGER

The US has little control over the price of gold, it actually follows the price of oil, going up or down with its market fluctuations? The gold price is also tied to the extraction price, as the rich gold veins have been played out, you have to process a ton of rock to get a gram of gold with only around 3000 more tons that could be reasonably extracted this way. While 99% of the gold on earth is in the core, some 122 billion tons that is out of reach and thus prohibitively too expensive to mine!

USA holds over eight thousand tones of gold, but do all of them belong to USA? Cause a lot of countries keep their gold in the us Fort Knox . Holding does not mean owning.

@@Haijwsyz51846 Actually you’re thinking of New York’s Federal Reserve Bank who’s gold vault rests on Manhattan's bedrock, 80 feet (24 m) below street level and 50 feet (15 m) below sea level. The vault contains the largest known monetary-gold reserve in the world, with about 6,190 short tons (5,620 metric tons) in storage as of 2019. The Fed serves as a guardian for the gold and does not own it outright. Nearly 98 percent of the building's gold is owned by the central banks of 36 foreign nations. Inside the vault are 122 gold compartments, each containing the deposits of one account holder, as well as various shelves for smaller account holders. The account holders are identified by numbers for anonymity. The Fed charges $1.75 to move each bar of gold. Gold bars are moved between the compartments whenever one account holder pays another.

sure, India definitely holds 1/6 of all the gold on earth ...😝

False

@@christopherjoseph8330No, 100% true unfortunately.

@@christopherjoseph8330 Infamous true stupidity. The fella was an idiot.

It was to split from only gold to gold and shares, it would be interesting to know the value of the share holdings

actually it was a pretty smart move, economically stock has a larger value gain than holding precious metals. It also has the benefit of stimulating economic growth, which it did actually...unfortunately Brexit and a decade of Tory basically wiped that all away. Holding gold is a security, not an investment with actual returns.

I'm not confident that any of this is accurate. How many "presidents" have come and gone and how much gold did they steal?

😂😂😂😂

You are out by a claimed three orders of magnitude, but I agree.

Why is Italy so poor? did they get the Gold from the Romans?

@@jennyohara4011 Accumulated over many years. I understand Mussolini also confiscated citizens gold.

Audit the federal reserve bank NOW!

For life. Not for monetary reasons.

People's teeth from the camps?

@@user-bk1jh3hu7g no, that gold would be in Switzerland now...

Italy has done well keeping it's gold.

One suspect most was pulled out to support the USD before the USD was taken off the gold peg.

No.

schwachsinn...googles lieber mal

Australia has a Western mentality, not Eastern If it could, it would weigh anchor and place itself immediately next to the USA.

@@fastpistonx ... and ... what does that have to do with the subject?

@@abrahamdozer6273 Let me help you. Australia is not Asian in mentality. It sells all it's gold while Asian countries do the opposite. Basically, Australia is like the UK and follows the US always.

@@fastpistonx I didn't mention "Asian mentality" and frankly, it is the farthest thing from my miind.bLots of non-Asian countries keep big oil reserves. My point i that Australia and Canada are two of the very giggest gold producers on the planet and tthey are not impressed with big gold reserves. They sell it to the hoarders."Asian mentality" whatever that is is pretty much irrelevant. Switezrland is #2.. They're about as Asian as the Icelanders. "Let me help you" Nice, Junior.

Indeed, Australia is the no. 2 gold producer. China is no. 1 and Russia no. 3. China and Russia and all other central banks in Asia understand gold is money, not paper FIAT backed by debt.

Reserved Gold India 0.5 grams per person USA 25 grams per person USA has 50 times more gold

Education is illegal in India?

​@@shabbirmr1030 So what? Islamic nations dont have wheat for Rotti/ Kubboos

And yet little D-boi's country is ranked 111th on the hunger-index

@@MJ-lz2xn they have a lot

no, China does not hold gold...they hold treasury bonds and other investments. Neither does Russia, but they did buy a lot in the last decade. Russia still holds a lot of untapped reserves in the frozen Tundra...hard to extract though.

Because at today's gold price, that 8134 metric tons would pay off just 1.8% of their 34 trillion debt - if all of it were theirs to sell, which it isn't. Does that put it into context for you?

honestly...gold is worthless in terms of macro economics. How much gold a nation holds, says nothing about its economic might. It does nothing in terms of securities against debt etc. The world has long moved on from the gold standard. There wouldn't be enough gold on earth anyway to cover any currency with gold, especially not the dollar.

If the US sold off it’s 8134 tons of gold that was mostly purchased at $40/oz - the price of gold would collapse as other country’s and investors would sell off their gold or face huge losses!

how exactly do you "consume" gold?

Indeed. Much of what China has been buying recently has been off the record.

Stolen gold

@@user-qg5vq9tq3p I propose you create a list of countries with stolen and non-stolen gold.

Niger , Mali and Burkina Faso have gold deposits plundered by france.

Trudeau the Economic Wizard doesn’t see any value in Gold. God help us. 🙏🏻

In early August 1971, France sent a warship to New York harbour with instructions to bring back its gold from the New York Federal Reserve Bank. This move by Charles de Gaulle may explain why France has so much gold today. Very shortly thereafter, on 15th August the same year, US President Richard Nixon suspended convertibility of the US dollar into gold, effectively ending the 25-year Bretton Woods era of fixed currency exchange rates against the US dollar. This marked the beginning of the era of make-believe, worthless, "fiat" currency, which is now drawing to a close. This, combined with the dollar's global reserve currency status, has permitted America to live well beyond its means ever since, to the tune of $34 trillion.

No, it’s quite accurate, country’s hold around 35,000 tons of gold in their banks with another 35,000 tons in gold coins and bullion is held privately with industry’s holding another 30,000 tons of gold. While 95,000 tons is held by world citizens in the form of rings, necklaces and bangles with India’s 1.4 billion people carrying some 24,000 tons of gold in this manner making them the biggest holder of gold!

Everything is fake according to some thicko’s.

😂😂😂👍👍👍Bezvredne dolar papiriće smatraju za zlato 😂

​@@JimCOsd55tvoj privatni prsten se spada u investiciono zlato.... Kako USA može imati više zlata nego Južna Afrika PRVI PROIZVOĐAČ Au i Rusija Drugi proizđač Au

That's rich. Lol​@@johnmoore9862