Central banks hold roughly 36,000 tonnes of gold worldwide. Holdings grew sharply after 2022 as nations diversified away from USD-dominated reserves.
Largest Official Gold Reserves (Tonnes, Approx.)
| Country | Tonnes | Notes |
|---|---|---|
| United States | ~8,133 | Held at Fort Knox & NY Fed |
| Germany | ~3,352 | Partially repatriated from abroad |
| Italy | ~2,452 | Stable holdings since Euro era |
| France | ~2,437 | Banque de France vaults |
| Russia | ~2,335 | Active buyer since 2014 |
| China | ~2,264+ | Steady accumulation, under-reported? |
| India | ~840 | RBI adding since 2018 |
Why Central Banks Buy Gold
- Reserve diversification beyond US Treasuries
- Hedge against currency debasement and sanctions risk
- Store of value with no counterparty risk
See how spot prices affect reserves: live gold price · price history.