Finance

Top 10 countries with the highest gold reserves in Q1 2024

The World Gold Council has released a comprehensive list of countries with the highest gold reserves as of the first quarter of 2024.

The UK-based international trade association for the gold industry, in its latest estimates, placed the United States of America in first place with a reserve of 8133.46 tonnes of the commodity.

This was followed by Germany, which had an estimated gold reserve of 3,352.21 tonnes, and Italy with 2451.84 tonnes, according to its ranking of gold reserves by country in Q1 2024.

France came in fourth place with 2436.91 tonnes, while the Netherlands was ranked in the 10th and last spot with gold reserves amounting to 612.45 tonnes.

For a key commodity like gold, many countries hold onto it for various reasons. For instance, gold serves as a stable commodity with value. It also serves as a confidence booster for a country’s economy during headwinds and economic uncertainty.

In all, gold is a key asset that helps countries diversify their investment portfolio, reducing risks among other benefits.

See the rankings of gold reserves by country in Q1 2024:

1. USA – 8133.46 Tonnes

2. Germany – 3,352.21 Tonnes

3. Italy – 2451.84 Tonnes

4. France – 2436.91 Tonnes

5. Russian Federation – 2,332.74 Tonnes

6. China – 2,262.45 Tonnes

7. Switzerland – 1040.00 Tonnes

8. Japan – 845.97 Tonnes

9. India – 822.09 Tonnes

10. Netherlands – 612.45 Tonnes

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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