Discover the updated ranking of global gold reserves, including the countries with the highest gold reserves. Where is Italy?
Gold reserves represent the quantity of physical gold held by governments and central banks as an integral part of their official assets. These are a key indicator of a country’s wealth and economic stability.
Gold, in fact, thanks to its intrinsic value and scarcity, is considered a "safe haven" capable of ensuring stability even in the darkest periods of crisis.
For this reason, many countries accumulate and jealously guard gold as a tool for economic security and protection against future difficulties. But among these, which countries possess the largest amount of gold reserves?
World Gold Reserve Ranking: The 25 Countries with the Most Gold
Below are the 25 countries with the largest gold reserves in the world, updated as of June 2025. The ranking is periodically generated by Trading Economics. Among these countries, as can be seen, Italy is also present... very high!
| Position | Country | Gold reserves in tons |
|---|---|---|
| 1 | United States | 8,133 |
| 2 | Germany | 3,350 |
| 3 | Italy | 2,452 |
| 4 | France | 2,437 |
| 5 | Russia | 2,330 |
| 6 | China | 2,299 |
| 7 | Switzerland | 1,040 |
| 8 | India | 880 |
| 9 | Japan | 846 |
| 10 | Turkey | 635 |
| 11 | Netherlands | 612 |
| 12 | Poland | 515 |
| 13 | Eurozone | 507 |
| 14 | Taiwan | 424 |
| 15 | Portugal | 383 |
| 16 | Uzbekistan | 365 |
| 17 | Saudi Arabia | 323 |
| 18 | United Kingdom | 310 |
| 19 | Kazakhstan | 306 |
| 20 | Lebanon | 287 |
| 21 | Spain | 282 |
| 22 | Austria | 280 |
| 23 | Thailand | 235 |
| 24 | Belgium | 227 |
| 25 | Singapore | 204 |
The top 25 world powers by gold reserves are also the only ones that exceed the minimum 200 ton threshold.
Italy third in the ranking, USA tops the list
Since the end of World War II, gold has been one of the key instruments of American economic power. At the top of the list of gold-rich countries, in fact, is the United States, with a total of 8,133 tonnes.
The gap with other countries is enormous: US reserves are more than double that of second-place Germany, and to calculate the US total, you need to add the second, third (Italy), and fourth (France) countries in the ranking. This astonishing figure confirms the United States’ role as the undisputed leader of the global economy.
Germany, in second place, is the largest European country in terms of gold reserves, holding a total of 3,350 tons.
Most of this was repatriated after the war, after Berlin lost a significant amount of the precious metal following its defeat in World War II. Today, the main storage location for German gold is the Deutsche Bundesbank in Frankfurt.
In third place is Italy, with total gold reserves of 2,452 tons.
Most of Italy’s gold is held in the form of bullion, each weighing approximately 12 kilograms and of almost absolute purity. A smaller portion is held in the form of coins.
Approximately 1,100 tons are held in Italy, at the headquarters of the Bank of Italy, while the remainder is distributed in vaults abroad, primarily in Switzerland and the United States.
France in fourth place, followed by Russia and China
Next, with a slightly lower gold reserve than Italy, is France. Its current gold reserves amount to 2,437 tons, a slight decrease from the 24-year average of around 2,600 tons.
Russia ranks fifth in the global ranking, with gold reserves of 2,330 tons. Over the past twenty years, its reserves have fluctuated significantly: in 2000, for example, they reached a historic low of just 343 tons. Since then, Moscow has embarked on a particularly aggressive accumulation strategy, steadily strengthening its reserves in response to both economic and geopolitical motivations, especially after the international sanctions of recent years.
In sixth place is the leading Asian country in the ranking, China, with a total of 2,299 tons. In recent years, the government has significantly increased its gold reserves, which have more than doubled, from 1,054 tons in 2013 to 2,235 tons in 2023.
Furthermore, news of the discovery of the world’s largest gold deposit, which occurred on Chinese soil, is recent. In Pingjang County, a deep natural gold reserve rich in the precious metal has been discovered. According to experts, it could contain up to 1,000 tons of gold hidden between 2,000 and 3,000 meters deep.
Switzerland comes in seventh, with a total of 1,040 tons of gold. The entire gold reserve is managed by the Swiss National Bank (SNB), playing a crucial role in the Swiss economy.
A unique feature of Switzerland is that, despite its small size, it holds one of the highest gold reserves per capita in the world. According to official data, approximately 70% of the gold is stored domestically (mainly in Bern, Zurich, and Lugano), while the remainder is stored abroad, in secure locations such as the United Kingdom and Canada. Switzerland is also the last of the seven countries to have exceeded 1,000 tons of gold reserves.
India is eighth, with Turkey rounding out the top 10
In eighth place is India, with 880 tons. The country is also the second largest gold consumer in the world, after China. This is due to its deep cultural traditions linked to the use of this precious metal.
In ninth place is Japan, with a total reserve of 846 tons, slightly less than India’s. Although gold constitutes a moderate percentage of total reserves, the country maintains this amount to diversify its resources and ensure greater financial stability.
Finally, rounding out the top 10 countries with the largest gold reserves is the "surprise" Turkey, which replaces the Netherlands (currently in 11th place) compared to the previous survey, with a total of 635 tons, stored across several continents.
Original article published on Money.it Italy. Original title: Riserve auree mondiali, la classifica dei Paesi con più oro
