To some, gold is an overrated yellow metal. To most, however, this yellow metal holds a very specific defined value. Even though currency is no longer backed by gold directly, the metal serves an important purpose in stabilizing the global economy. Gold makes up a portion of most forex reserves, with larger percentages for some countries than others. Here are the top ten countries with the largest gold reserves. The G6 nations combined are the highest single-organization holder of gold in the world, while the International Monetary Fund is ranked number three with 2,814 tonnes.
India rarely invests much in gold, as the country operates under a belief that buying gold leads to a deficit. The country currently holds 557.7 tonnes of gold, making up 9.9 percent of the country’s total forex reserve. Ten percent is the generally agreed-upon ideal average, and India is careful to remain right around that mark for maximum diversification.