The United States holds the world’s largest official gold reserves, at about 8,133 tonnes, more than the next two countries combined. Germany, Italy and France follow, with China and Russia close behind. Central banks have been buying gold heavily in recent years to diversify their reserves.
Countries with the largest gold reserves (2026)
Central banks hold gold as a store of value that carries no default risk. The United States dominates with 8,133 tonnes, more than a fifth of all the gold held by governments and international institutions, which the IMF puts at about 36,500 tonnes.
| Rank | Country | Gold reserves (tonnes) |
|---|---|---|
| 1 | United States | 8,133 |
| 2 | Germany | 3,349 |
| 3 | Italy | 2,452 |
| 4 | France | 2,437 |
| 5 | China | 2,346 |
| 6 | Russia | 2,283 |
| 7 | Switzerland | 1,040 |
| 8 | India | 881 |
| 9 | Japan | 846 |
| 10 | Poland | 632 |
Source: World Gold Council, based on IMF International Financial Statistics (holdings at the end of June 2026). China, which reported 2,346 tonnes, has pulled ahead of Russia (2,283 tonnes), and Poland (632 tonnes) has overtaken the Netherlands (612 tonnes) for tenth.
Why central banks hold gold
Gold is a reserve asset that no government can print or default on, which makes it a hedge against inflation, currency risk and geopolitical shocks. Demand has surged: central banks bought a net 863 tonnes of gold in 2025, well above the 2010–2021 average of 473 tonnes a year (World Gold Council). Poland was the biggest single buyer, adding 102 tonnes. Buying slowed in 2026: central banks added a net 345 tonnes in the first half, the lowest first half since 2022, although Poland kept going and reached 632 tonnes by the end of June, close to its 700-tonne target (World Gold Council). Western holders keep the large majority of their reserves in gold, while China and Japan hold under 10%, which leaves them room to buy far more.
Key takeaways
- The US holds the most official gold at 8,133 tonnes, more than the next two combined.
- Germany, Italy, France, China and Russia complete the top six.
- Central banks bought a net 863 tonnes in 2025 and 345 tonnes in the first half of 2026 (WGC).
- Total world official gold reserves are about 36,500 tonnes (IMF).
Frequently asked questions
Which country has the most gold reserves?
The United States has about 8,133 tonnes of official gold. That is more than Germany and Italy combined, and almost as much as Germany, Italy and France together. It has held the top spot for decades and keeps the majority of its foreign reserves in gold.
How much gold does the United States have?
The US Treasury holds roughly 8,133 tonnes of gold, most of it stored at Fort Knox, West Point and the Federal Reserve Bank of New York. That is more than a fifth of all official gold held by governments and international institutions worldwide.
Are central banks still buying gold in 2026?
Yes, but more slowly. Central banks bought a net 863 tonnes in 2025 and 345 tonnes in the first half of 2026, the lowest first half since 2022 (World Gold Council). Emerging-market central banks, led by Poland and China, have driven much of the demand.
Sources
- World Gold Council, Gold reserves by country (data as of 30 June 2026) — retrieved 2026-10-23 — gold.org
- World Gold Council, Gold Demand Trends Q2 2026 (central banks) — retrieved 2026-10-23 — gold.org
- Trading Economics, Gold reserves by country (June 2026) — retrieved 2026-10-23 — tradingeconomics.com
- World Gold Council, Gold Demand Trends Full Year 2025 (central banks) — retrieved 2026-07-04 — gold.org
- Gold reserve (IMF world total) — retrieved 2026-10-23 — wikipedia.org
Last updated: October 2026
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