Top 20 Countries With Gold Reserves: Know India's Rank In The List

Forbes has announced the list of the top 20 countries with the largest gold reserves in the world and India has taken the ninth place in it.

Which Country Has Largest Gold Reserves In The World?

Citing data from the World Gold Council, the report claimed that The United States has the largest gold reserves measuring 8,133.46 tonnes, valued at $489,133 million. Germany has taken the second spot with estimated gold reserves of 3,352 tonnes.

How much gold does India have in reserves?

It is followed by Italy (2,451 tonnes), France (2,436 tonnes) and Russia (2,332 tonnes). According to the World Gold Council, India has 800.78 tonnes of gold reserves, valued at $48,157 million.

Check out the list of top 20 countries with the largest gold reserves:

We live in a time of volatility and countries hoard gold for its stability and reliability. It is an asset for weathering economic storms and boosting confidence.

Countries use gold to diversify their portfolios, hedge against a falling dollar, and even settle international debts.

"The appeal of gold is heightened by its inverse correlation with the US dollar. When the value of the dollar declines, gold tends to increase in value. This dynamic allows central banks to safeguard their reserves during periods of market volatility.

Gold reserves also have a role in international trade and finance. Some countries use gold to settle trade imbalances or as collateral for loans. The presence of gold reserves can enhance a country's creditworthiness and influence its standing in the global economic system," The Forbes says.