The countries with world's biggest gold reserves - UK only in 17th place

2 hours ago 1

gold

The UK has the 17th largest golden reserves successful the satellite (Image: Getty)

The UK has the 17th largest golden reserves successful the world, but immoderate of the EU's cardinal players marque up the apical 10.

A gold reserve is the golden held astatine a nationalist cardinal bank which acts arsenic a warrant to wage depositors, holders of insubstantial wealth and trading partners.

It is captious for the economical stableness of a country, acting arsenic a reliable store of value, peculiarly during fiscal uncertainties.

Reserves are a hangover from the epoch of the gold standard, which was the ground for the planetary monetary strategy from the 1870s to the 1970s.

In this time, countries backed the worth of their money by establishing a fixed speech complaint for gold. Each portion of currency had a corresponding worth successful golden and individuals could speech their insubstantial wealth for existent golden astatine this acceptable rate.

money

The golden modular backed the worth of currency (Image: Getty)

According to the World Gold Council, the United States of America has the biggest golden reserve successful the satellite with 8,133 metric tons.

It has astir arsenic galore reserves arsenic the combined full of the adjacent 3 countries with the largest golden holdings: Germany, Italy, and France.

The UK comes successful 17th, with 26 times little golden reserves than the USA - conscionable 310 metric tons. It has the sixth largest golden reserves successful occidental Europe, which is the portion with the largest reserves overall.

The countries with the world’s biggest golden reserves are (with their golden holdings successful metric tons)

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United States of America - 8,133
Germany - 3,351
Italy - 2,451
France - 2,436
Russia - 2,335
China - 2,264
Switzerland - 1,040
Japan - 845
India - 840
Netherlands - 612
Turkey - 584
Portugal - 382
Taiwan - 422
Poland - 377
Uzbekistan - 365
Saudi Arabia - 323
United Kingdom - 310
Kazakhstan - 298
Lebanon - 286
Spain - 281

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