The world’s gold reserves are spread across a variety of countries and institutions. As the global economy expands and evolves, the value of gold reserves becomes even more valuable. To see which countries are at the top of this list, updated for 2023, here is a list of the top 10 gold reserves by country. First on the list is the United States. It remains the world leader in gold holdings with 8,133.5 metric tons. This makes up less than five percent of total world reserves. Gold has been a traditional safe haven investment in times of economic uncertainty for the US and other countries. Second is Germany, which holds over 3,366.5 metric tons of gold. This is approximately three times the amount held by the US. As Europe’s economic powerhouse, the stabilization of its gold reserves is a sign of strength for the continent. The third largest holder of gold is the International Monetary Fund (IMF). They hold 2,814 metric tons of gold, although they have the ability to sell it on the market. As an international institution, their gold holdings contribute to a more stable global economy. Fourth on the list is Italy, holding an estimated 2,451 metric tons of gold. The country had previously been a major gold buyer, but has since decreased its gold purchases due to economic constraints. Fifth is France, holding an estimated 2,435 metric tons of gold. The country has traditionally relied on gold as a safe haven investment and as a tool for controlling inflation. Sixth on the list is Russia, holding an estimated 2,173 metric tons of gold. As the world’s largest energy producer and noble metal supplier, their gold holdings provide a significant economic cushion during periods of uncertain global economic conditions. Seventh is China, holding an estimated 1,842 metric tons of gold. During times of economic turmoil, the Chinese government has often turned to gold as a safeguard against economic insecurity. Eighth is Switzerland, holding an estimated 1,040 metric tons of gold. This is roughly one-tenth of the three largest gold holders combined. Switzerland’s gold holdings are used to support its currency,? the Swiss franc, and serve as a safe haven against economic uncertainty. Ninth on the list is Japan, holding an estimated 765 metric tons of gold. Japanese gold reserves have been declining for several years, as the country has decreased its purchase of gold in favor of foreign currencies. Tenth on the list is The Netherlands, holding an estimated 612 metric tons of gold. The majority of the gold is held in the Netherlands Central Bank and the Royal Mint of the Netherlands. These top ten gold holders account for over 48% of the world’s gold reserves. As economies expand and global instability increases, the value of these gold reserves become even more important.