Ranked: Countries with the Highest Gold Reserves

USA leads as the country with the highest gold reserves at 81.4%, followed closely by Germany at 81% and France at 78.5%.

Gold remains a cornerstone of central bank reserves worldwide, acting as a hedge against inflation and currency risk. But not every country holds it the same way.

While some nations keep the bulk of their reserves in gold, others rely far more heavily on foreign currency and other assets. Here's how gold holdings stack up as a percentage of total reserves, based on the latest data from the World Gold Council.

The U.S.A. and Germany lead the pack, each holding over 8,100 tonnes of gold, accounting for roughly 81% of their total reserves. France and Italy aren't far behind, both sitting above 77%, reflecting a long standing European preference for gold backed reserves.

Russia, despite holding over 2,283 tonnes, sees gold make up just 41.4% of its reserves, a sign of a more diversified reserve strategy.

Further down the list, countries like the U.K., India, Switzerland, Japan, and China hold notably smaller shares, ranging from 8% to under 19%, despite some, like China, holding over 2,300 tonnes in absolute terms.

Globally, gold accounts for about 25% of total reserves, out of 36,705 tonnes held collectively, underscoring just how unevenly gold is weighted across major economies.

Note: Germany & France data as of April 2026; Italy & Switzerland as of May 2026; remaining countries as of June 2026. Sourced from World Gold Council.

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