Worldwide gold reserves continue to rise significantly

In addition to Russia and China, India has also bought gold again. According to the World Gold Council’s list, world gold reserves have risen by 47 tonnes since last month.

Central banks continue to buy significant amounts of gold to diversify their foreign reserves. This applies in particular to the countries of Eastern Europe and Far Asia. The World Gold Council (WGC) has released a new ranking of global gold reserves. It contains the official national gold holdings as of March / April 2019. Russia’s gold reserves have risen by 15.1 tons to 2,183.4 tons (see: Russia Buys Tons of Gold Again). China is listed in the WGC table for the first time with gold reserves of more than 1,900 tons. As Gold Reporter reported in early May, the country recently reported the largest gold purchases since June 2016.India has bought another 3.8 tonnes of gold and now has 612.6 tonnes as official gold reserves. Kazakhstan’s gold reserves have increased by 4.9 tons to 366.6 tons. In Uzbekistan, 6.5 tons of gold have been added. Turkey reports 296.1 tonnes, 2.5 tonnes more than in the previous month.

The total international gold reserves are estimated at 34,023.87 tons by the World Gold Council. That’s 47.37 tons more than a month ago.As always the note: The data collected by the World Gold Council are based essentially on the information provided by the countries themselves and the figures of the International Monetary Fund. Some states, such as Israel, Iran and North Korea, do not provide information on their gold reserves.