Gold has always held a special place in the global economy. Beyond jewellery and investment, it remains an important asset for governments and central banks. Countries keep gold as part of their foreign reserves because it can help protect their economies during periods of financial uncertainty, inflation and geopolitical tensions.
According to the latest data from the World Gold Council, updated in October 2026, the United States has the largest official gold reserves in the world, followed by Germany, Italy, France and China.
1. United States
The United States remains the world’s largest holder of official gold, with about 8,133.5 tonnes. Gold makes up more than 80 per cent of the country’s official reserves.
The huge American gold stockpile is a reflection of the country’s long history of using gold as an important monetary and financial asset.
2. Germany
Germany ranks second, with approximately 3,349.3 tonnes of gold. Gold represents about 80.8 per cent of its official reserves.
Germany’s large gold holdings are partly linked to its monetary history and its desire to maintain a strong reserve position.
3. Italy
Italy has approximately 2,451.9 tonnes of gold, making it the third largest national holder.
Gold accounts for about 77 per cent of Italy’s official reserves. The country’s substantial holdings have remained relatively stable over the years.
4. France
France follows closely behind Italy with about 2,437 tonnes of gold. Gold makes up nearly 79 per cent of its official reserves.
The country has maintained its large gold holdings as part of its broader strategy for managing national reserves.
5. China
China holds approximately 2,346.4 tonnes of official gold reserves, placing it fifth among countries with the largest holdings.
Unlike some European countries, however, gold represents a much smaller share of China’s total reserves, at about 8 per cent. China has also been increasing its gold holdings in recent years.
6. Russia
Russia holds about 2,326.5 tonnes of gold. Gold represents more than 40 per cent of its official reserves.
The country has accumulated substantial gold over the years as part of efforts to diversify its reserves and reduce reliance on other financial assets.
7. Switzerland
Switzerland has approximately 1,039.9 tonnes of gold, making it the seventh largest holder.
Although its gold holdings are significant, gold accounts for about 12 per cent of the country’s official reserves.
8. India
India holds about 880.5 tonnes of official gold reserves. Gold represents approximately 16 per cent of its official reserves.
India is also one of the world’s largest consumers of gold, with the precious metal playing an important cultural and economic role.
9. Japan
Japan has approximately 846 tonnes of gold reserves. Its holdings have remained largely unchanged in recent years.
Gold accounts for about 8.5 per cent of Japan’s official reserves.
10. Türkiye
Türkiye rounds out the top ten, with approximately 772.5 tonnes of gold.
Gold makes up about 61 per cent of its official reserves, giving the precious metal an important role in the country’s reserve management.