Central banks around the world collectively hold over 36,000 metric tons of gold — approximately one-fifth of all gold ever mined. This gold serves as a foundation of national financial security.
Top Gold-Holding Central Banks
| Country | Gold Reserves (tons) |
|---|---|
| United States | ~8,133 |
| Germany | ~3,353 |
| Italy | ~2,452 |
| France | ~2,437 |
| Russia | ~2,330 |
| China | ~2,264+ |
Why Central Banks Hold Gold
- No counterparty risk: Gold is not another country’s liability
- Inflation hedge: Protects against the debasement of their own currency
- Crisis buffer: Available for sale or collateral in emergencies
- Confidence: Gold reserves signal financial strength and stability
Recent Trends
Since 2010, central banks have been net buyers of gold every single year. Annual purchases have accelerated dramatically, with 2022 and 2023 seeing the highest central bank gold buying on record. When the institutions that print money choose to hold gold, it is perhaps the strongest endorsement possible.