Friday, April 24, 2009

China Gold Reserve Among Top 5 Countries

China Gold Reserve is now officailly the 5th largest in the world. Here is a list of Countries with largest gold reserves:

  1. United States of America. USA owns the largest gold deposits which are around 8200 tonnes. Even though USA decoupled its gold reserves from its currency in 1971 and made the dollar value to depend upon economic trade, its gold amounts for 75% of forex reserves.
  2. Germany. Germany's gold reserves are around 3400 tonnes which are 65% of its forex reserves.
  3. France. France has 2500 tonnes of gold reserves.
  4. Italy. Italy has 2400 tonnes of gold reserves.
  5. China. China has recently announced that it has accumulated gold over several quarters and become the 5th largest gold reserve country beating Switzerland, Japan and Netherlands. China's gold reserve stands at 1054 tonnes. 

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