International Gold Reserves at 6138 Tons
As of the latest available data, the total amount of gold held by central banks around the world stands at 6138 tons. This represents a significant increase from the 5826 tons held in 2019. The United States continues to hold the largest gold reserves, with 8133 tons, followed by Germany with 3361 tons and the International Monetary Fund (IMF) with 2814 tons.
The increase in global gold reserves is primarily due to central banks’ efforts to diversify their portfolios and hedge against inflation. Gold is considered a safe haven asset that retains its value in times of economic or political uncertainty. In recent years, central banks have increased their gold purchases as a response to the COVID-19 pandemic and the ongoing geopolitical tensions.
The largest increase in gold reserves was made by the People’s Bank of China, which increased its holdings by 48 tons. Other notable increases were made by the Central Bank of Russia (27 tons), the Central Bank of Turkey (26 tons), and the Central Bank of India (18 tons).
The increase in international gold reserves is a sign of the continued importance of gold as a reserve asset. Central banks around the world are recognizing the value of holding gold as part of their overall portfolio strategy. As long as global economic and political uncertainty persists, gold is likely to remain a popular safe haven asset and central banks will continue to increase their holdings.
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