India ranks 11th in gold holding: World Gold Council

  • India world’s largest consumer of gold has the 11th largest gold reserve, with the current holding pegged at 607 tonnes, as per the latest report by the World Gold Council (WGC).
  • India’s overall position in terms of total gold holding would have been tenth had the list included only countries. Whereas, the International Monetary Fund (IMF) is included and is third on the list with total gold reserves of 2,814 tonnes.
  • The list is topped by the U.S., which claims of gold reserves of 8,133.5 tonnes, followed by Germany with 3,369.7 tonnes.
  • Italy and France complete the top five list with reserves of a little over 2,400 tonnes each.
  • Meanwhile, among Asian countries, China and Japan have more reserves of the precious metal when compared to India. China  WGC takes into account only ‘Mainland China’ – has reserves of 1,864.3 tonnes, while Japan has gold reserves of 765.2 tonnes