Gold remains an important store of value, serving as a hedge and retaining value during economic crises. In 2023, amid uncertainty about US interest rates and continued geopolitical risks, the metal once again demonstrated its importance by hitting a new record in December. This graphic, by Sam Parker, displays the top 11 countries by gold reserves as of September 2023, based on data from Central Banks, the Federal Reserve Bank of St. Louis, the International Monetary Fund, the World Bank, and the World Gold Council.
The U.S. boasts the world’s largest gold reserves, with 8,133 tonnes stored in 12 Federal Reserve Banks across the country. Russia and China have been the largest gold buyers over the last two decades. The People’s Bank of China was the biggest buyer of gold last year, purchasing 225 tonnes.
