Gold has always been more than a shiny metal—it is a symbol of wealth, power, and financial security. Even in today’s modern economy, where digital currencies and complex financial instruments dominate, gold continues to play a crucial role in stabilizing national reserves. For countries, holding large amounts of gold is a safeguard against inflation, currency fluctuations, and global economic crises.
Here’s a look at the top 10 countries with the highest gold reserves as of 2025, and why these reserves matter so much.
1. United States – 8,133.5 tonnes
The United States tops the list by a wide margin. With over 8,100 tonnes of gold stored mainly at Fort Knox, Kentucky, and the Federal Reserve Bank of New York, America’s reserves account for nearly 70% of its total foreign exchange reserves. The country’s dominance in gold reflects its longstanding policy of securing wealth through precious metals, especially during times of global uncertainty.
2. Germany – 3,352.6 tonnes
Germany holds the second-largest stockpile of gold. Historically, much of this gold was stored abroad, especially in the U.S. and France, due to Cold War tensions. In recent years, however, Germany has repatriated significant amounts back to Frankfurt. Gold represents over two-thirds of Germany’s total reserves, highlighting its conservative approach to financial security.
3. Italy – 2,451.8 tonnes
Despite facing economic challenges, Italy remains one of the top gold holders in the world. The Banca d’Italia manages the reserves, which serve as a financial safety net against its high public debt. Italians consider gold a critical safeguard that strengthens the credibility of their financial system.
4. France – 2,436.9 tonnes
France follows closely behind Italy, with gold reserves just shy of 2,440 tonnes. The Banque de France has maintained a steady commitment to gold for decades. While France is a strong player in the European Union, it continues to hold gold as insurance against currency risks and potential financial instability.
5. Russia – 2,326.5 tonnes
Russia has aggressively built up its gold reserves in the past decade, partly to reduce its dependence on the U.S. dollar amid geopolitical tensions and sanctions. Much of Russia’s gold is mined domestically, making it one of the few nations largely self-reliant in this regard. Gold now accounts for over 20% of Russia’s total reserves.
6. China – 2,226.4 tonnes
As the world’s largest consumer and producer of gold, China’s official reserves stand above 2,200 tonnes. However, many experts believe the actual figure could be much higher, as China tends to disclose reserves irregularly. The People’s Bank of China sees gold as a strategic asset to back the yuan’s growing role in global trade.
7. Switzerland – 1,040 tonnes
Switzerland, known as a hub of global banking, holds more than 1,000 tonnes of gold. What makes Switzerland unique is its relatively small size compared to other nations on this list. Gold represents about 5% of its foreign reserves, and much of it is held securely by the Swiss National Bank.
8. Japan – 845.9 tonnes
Japan, the world’s third-largest economy, holds nearly 846 tonnes of gold. While gold makes up a smaller percentage of Japan’s total reserves compared to Western nations, it plays an important role in supporting its financial resilience, particularly in times of yen volatility.
9. India – 822.1 tonnes
India, with its deep cultural connection to gold, has steadily increased its reserves to over 820 tonnes. Managed by the Reserve Bank of India, these reserves not only strengthen the rupee but also highlight India’s efforts to stabilize its rapidly growing economy. Interestingly, India is also one of the largest private holders of gold, with millions of households owning the metal as jewelry and investment.
10. Netherlands – 612.5 tonnes
The Netherlands rounds out the top 10, with more than 600 tonnes of gold reserves. Much like Germany, the Dutch central bank has repatriated large portions of its reserves back to Amsterdam in recent years, reflecting a strategy to keep gold closer to home during uncertain times.
Why Gold Still Matters Today
Even in a digital-first global economy, gold continues to serve three major purposes for nations:
- Hedge Against Inflation – When currencies lose value, gold’s intrinsic worth tends to rise.
- Safe Haven in Crises – During wars or global recessions, gold is often the first choice of investors and governments alike.
- Strategic Asset – Gold strengthens a country’s ability to negotiate in international finance and trade.
Final Thoughts
The list of the top 10 countries with the highest gold reserves underscores one truth: no matter how advanced financial systems become, gold remains the backbone of stability. Whether it’s the United States with its massive holdings or smaller nations like Switzerland and the Netherlands, gold continues to be viewed as the ultimate insurance policy in an unpredictable world. As economies grow more interconnected and geopolitical risks intensify, the importance of gold in national reserves is unlikely to diminish. Instead, it may rise further, ensuring this precious metal retains its crown as the world’s most trusted asset.
