Top 10 Countries with Largest Gold Reserves
Gold is a precious and one of the most expensive metals mined in various countries worldwide. Counties with large gold preserves have a high growth rate of economy. This is achieved when some amount of Gold is exported to various clients in exchange of foreign exchange. Take look at some of these countries that are currently developed or under development and have large gold reserves.
Below are the top 10 countries with the largest gold reserves:
India
Tonnes: 557.7
Percent of foreign reserve: 6.3%
India is one of largest Gold reserve rated in tenth position in the world. It is also largest or second largest consumer of gold. Population of this country is approximated to be 1.25 billion people. Found in Southern part of Asia, India uses a lot of Gold and several other minerals especially during wedding ceremonies that are held in between September and December. India holds several other precious minerals too.
Netherlands
Tonnes: 612.5
Percent of foreign reserve: 61.2%
Netherlands is another popular country holds largest Gold reserves worldwide. Amount of gold production in Netherlands is approximated 612.5 tonnes every year. Dutch central bank of this rich country is still looking for a good place to store their wealth of precious metal. Large amount of Gold is exported from Netherlands to United States of America.
Japan
Tonnes: 765.2
Percent of foreign reserve: 2.4%
Japan is rated in eighth position and is amongst largest Gold reserves worldwide. This country hold a record of having third largest economy growth worldwide. Essay of central banks of Japan is very aggressive and has hard working employees that are always on their toes in developing lives of local citizens. It is always good to learn that some countries are actually willing to help lives of their people. Japan produces 765.2 tons of Gold yearly. Some of them are exported to various countries such as United State of America. Yellow medal is another quality mineral produced in Japan.
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Switzerland
Tonnes: 1,040
Percent of foreign reserve: 6.7%
Gold produced by Switzerland is approximated 1,040 tonnes per year. Most of its Gold reserves were discovered during Second World War. It has always remained successful since that time to date. Gold manufacturing companies of this amazing country are now combined with those of China and more specifically Hong Kong. Europe is one continent that is always proud of having Switzerland in it.
Russia
Tonnes: 1,460.4
Percent of foreign reserve: 15%
Russia is a rich country and produces a total amount of 1,460.4 tons of Gold and many other important precious stones. This country has developed so fast due to Gold reserves that are creating many employment sectors for young people. They exports gold to different counties as they have to develop their country too. Problem of jobless people is highly settled in Russia and quite a good number of people are currently able to sustain themselves in their lives. Huge amount of Gold treasures is normally sold to United States of America and many other neighbouring countries.
China
Tonnes: 1,797.5
Percent of foreign reserve: 2.2%
China is best known for producing electronic devices such as phones, radios, televisions and many other electronic gadgets that are useful in everyday life. China is amongst popular countries that own largest Gold reserves worldwide. The total amount of 1, 797.5 Tonnes is produced yearly by this wonderful country. Through these productions, you will find out that economy growth rate of China is always growing fast.
France
Tonnes: 2,435.7
Percent of foreign reserve: 62.9%
France is another developed country that has highest reserves of gold worldwide. France produces large amount of Gold while others are distributed to neighbouring countries. As a result, a lot of Foreign exchange is earned and it helps a lot in growth of its economy. In past few years however, little amount of gold was exported from other nations and willing clients worldwide. This was as a result of low rate of gold mined recently. France is one country that many people wish to go because of low rate of corruption and large reserves of Golf in this Universe.
Italy
Tonnes: 2,451.8
Percent of foreign reserve: 68%
Italy is another popular and developed country that cannot be omitted in list of Highest Gold reserves worldwide. A total amount of 2,451.8 tonnes of gold is produced by Italy every year. Research shows that total amount of Gold has not been added to its revenue in past few months. This is according to Central bank of Italy. Such conditions were experienced in 2013. Italy has support from European Central Bank (ECB) president Mario Draghi.
Germany
Tonnes: 3,381
Percent of foreign reserve: 68.9%
This list could have been untrue without featuring Germany as one of largest Gold reserves worldwide. Germany produces high amount of Gold each year. Some are preserved to be used by manufacturing companies of Germany while others are exported and sold to other countries in the world. Amount of Gold produced in Germany is approximated to be 3,381 tonnes yearly.
United States
Tonnes: 8,133.5
Percent of foreign reserve: 74.9%
United States is largest producer of Gold in the world. United States of America produces about 8,133.5 tonnes of Gold yearly. Because of this mineral the economy of this nation has increased at higher rate. Citizens of United States of America are always well of and cannot be considered to be poor like that of undeveloped and corrupt countries from different continents such as Africa.
Top 10 Countries with Largest Gold Reserves list comprises of countries with highest reserves of Gold production. There is no African country featured in any position above. Gold is a precious mineral that helps a lot in boosting economy of various countries worldwide. When Gold is exported, Foreign exchange is earned.
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