A pile of gold bars inside a bank vault

Which countries own the most gold?

Written by:
October 16, 2023
thisdesign // Shutterstock

This story originally appeared on SD Bullion and was produced and distributed in partnership with Stacker Studio.

Which countries own the most gold?

The amount of gold in the world is finite—unlike the amount of money issued by countries' central banks, which simply depends on those banks' economic goals. So when the value of a dollar, pound, or euro drops, the corresponding value of gold rises. That makes owning gold a great way to prepare for times of economic uncertainty, and investors and national banks alike buy and hold gold for that reason.

SD Bullion analyzed global data on gold stockpiles from the World Gold Council as well as economic data from Trading Economics to illustrate the distribution of gold held by governments worldwide. World Gold Council data is recent as of the second quarter of 2025.

The United States' current reserves, just shy of 9,000 metric tons, reflect the fact that up through the early 20th century, gold was the standard currency of international trade and exchange—and that during both world wars, European nations bought supplies, weapons, and equipment from the U.S., paying for it with gold.

The U.S.-owned gold is stored in various secure locations around the country, including at Fort Knox, Kentucky, perhaps the most famous gold-storage facility in the world.

But there are other countries with plenty of gold on hand as well. Here are the 10 that have the most. The percentage of national reserves represents how much of a country's holdings of cash and other assets are in gold. Inflation data is the most recently available data as of September 2025.

Town Hall on the Market Square in Wroclaw, Poland.
1 / 10
givaga // Shutterstock

#10. Poland

- Gold in reserves: 515.5 tons
- Gold as a portion of national reserves: 22.0%
- Inflation rate: 2.9%

Panorama of famous dancing houses in Amsterdam, Netherlands.
2 / 10
Yasonya // Shutterstock

#9. Netherlands

- Gold in reserves: 612.5 tons
- Gold as a portion of national reserves: 68.1%
- Inflation rate: 2.8%

3 / 10
banu sevim // Shutterstock

#8. Turkey

- Gold in reserves: 634.8 tons
- Gold as a portion of national reserves: 50.1%
- Inflation rate: 33.0%

Pagoda at Fuji mountain.
4 / 10
Canva

#7. Japan

- Gold in reserves: 846.0 tons
- Gold as a portion of national reserves: 6.8%
- Inflation rate: 3.1%

Golden temple lit up at night.
5 / 10
Canva

#6. India

- Gold in reserves: 880.0 tons
- Gold as a portion of national reserves: 13.1%
- Inflation rate: 2.1%

Chinese gold ingot.
6 / 10
Canva

#5. China

- Gold in reserves: 2,299.0 tons
- Gold as a portion of national reserves: 6.7%
- Inflation rate: -0.4%

A building with a sign that reads "Banque de France"
7 / 10
Canva

#4. France

- Gold in reserves: 2,437.0 tons
- Gold as a portion of national reserves: 75.0%
- Inflation rate: 0.9%

Red, white and green flag flying in front of a dome.
8 / 10
Canva

#3. Italy

- Gold in reserves: 2,451.8 tons
- Gold as a portion of national reserves: 74.2%
- Inflation rate: 1.6%

A parliament building with a glass dome on top and columns.
9 / 10
Canva

#2. Germany

- Gold in reserves: 3,350.3 tons
- Gold as a portion of national reserves: 77.5%
- Inflation rate: 2.2%

A large classical building made of limestone with a statue in front of it.
10 / 10
Canva

#1. United States

- Gold in reserves: 8,133.5 tons
- Gold as a portion of national reserves: 78.0%
- Inflation rate: 2.9%

Data reporting by Dom DiFurio. Story editing by Ashleigh Graf. Copy editing by Tim Bruns. Photo selection by Ania Antecka.

Trending Now