Gold Reserves As % of Total Holdings Emerging market central banks continue to hold significantly less gold than their developed counterparts, suggesting a potential for increased future allocations that could provide sustained support for gold prices. Image: Goldman Sachs Global Investment Research
Gold Reserves by Country The United States has the largest gold reserve, followed by Germany. Image: IMF
Countries with the Largest Gold Reserves Worldwide This chart shows that the U.S. has the largest gold reserve, followed by Germany. Image: Statista
Gold Reserves Around the World The U.S. has the world’s largest gold reserves, followed by Germany, the International Monetary Fund (IMF) and France. Image: howmuch.net Click the Image to Enlarge
Central Bank Reserve Holdings of Gold For the first time since the end of WWII, central banks are increasing their holdings of gold to diversify their reserves away from the U.S. dollar, amid trade tensions. Image: Bernstein
International Liquidity by Country – Total Reserves Excluding Gold, U.S. Dollars USA holds $115 billion and China holds over $3 trillion in reserves. Image: howmuch.net
Annual Change in Gold Demand Central banks’ gold demand has grown by 11.5% annually since 2019, fueling the current price rally as they aim to diversify reserves. While gold excels as a crisis hedge, it hasn’t consistently delivered long-term alpha for investors. Image: J.P. Morgan Asset Management
Physical Gold Held by all Gold ETFs Globally While central banks are increasing their gold reserves as a hedge against economic uncertainty and currency risks, global gold ETFs continue to see a decline in investor interest. Image: J.P. Morgan
Performance of Gold and Fed Cutting Cycles Federal Reserve interest rate cuts are often perceived as favorable for gold prices, particularly during periods of economic downturn. Image: Goldman Sachs Global Investment Research
U.S. Dollar Share of Allocated Reserves The share of the U.S. dollar in global reserves has decreased and now stands at 59%. Image: Goldman Sachs Global Investment Research
Atlanta Fed GDPNow U.S. Real GDP Estimate The Atlanta Fed’s GDPNow model predicts an annualized contraction of -2.5% in U.S. real GDP for Q1 2025, while the alternative model that incorporates gold import and export data forecasts a smaller decline of -0.4%. Image: Federal Reserve Bank of Atlanta