One country has over £500bn worth of gold (Image: Getty)
The for gold has a huge $682 billion (£529 billion) fortune, over 26 times the UK’s reserves. Its gold stockpile is valued at more than double the next highest country, and almost as much as the top three runners-up combined – , , and – as per figures on the World Gold Council.
The reserve this country boasts is roughly equivalent to the combined weight of 32 empty Boeing 747s, standing at 8,133.46 tonnes of gold. Latest figures confirm the leads the world when it comes to gold reserves, dwarfing the UK’s $26 billion (£29 billion) stockpile, amounting to 310.29 tonnes. This ranking highlights how different countries approach economic resilience, with the top four countries allocating more than 70% of their reserves to gold.
The Federal Reserve Bank of New York is said to have the world’s largest bulk of gold (Image: Getty)
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The UK in contrast allocates just under 15%, largely following the decision of Chancellor in 1999 to sell more than half of the UK’s gold reserves – around 400 tonnes – for $3.5 billion.
The United States amassed a significant amount during the where many countries deposited their gold reserves in the US for safekeeping, coupled with policies like the Gold Reserve Act which incentivised gold accumulation during the 20th century.
A vault at the Federal Reserve Bank of New York is known to contain the largest amount of gold in the world.
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In second place according to the World Gold Council, Germany has $281 billion (£217 billion) worth of gold, Italy comes third with $205.6 billion (£159.2 billion), and France is in fourth place with $204.4 billion (£157.8 billion).
Norway, Nicaragua, Croatia and Armenia have no gold reserves, according to the data.