10 banks with the largest gold reserves
03. 08. 2022Central banks are still buying gold. They consider it as an important reserve asset. Although purchases by some of the larger central banks are stagnating, the major institutions of smaller countries are still expanding their reserves. They want to defend themselves against the effects of rising inflation and have a safe cushion for the coming crisis.
The Czech National Bank is beginning to think similarly, at least according to the new governor, Ales Michl. He expressed the need to significantly expand the gold reserves held by the Czech National Bank. Currently, the Czech Republic has approximately 11 tonnes of precious metal in reserves. But if Michl's idea comes true, gold reserves should expand almost tenfold over the next few years.
However, the largest countries still hold the highest gold reserves.
If we take the eurozone countries as a whole, we find that they are doing very well with their gold reserves. With a total holding of 10,771 tonnes, they would surpass even the United States. The European Central Bank itself is in the 12th place in the ranking. Great Britain in the 19th place.
