+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

These are the 10 countries hoarding enormous mountains of gold

Nov 22, 2016, 19:22 IST
Sonja Enz of the Stapferhaus, an event place for contemporary exhibitions, holds coins in her hands as she sits in a room filled with 4 million Swiss five cent coins during a media preview of the exhibition &quotGeld - Jenseits von Gut und Boese" (Money -beyond good and evil) in the town of Lenzburg west of Zurich November 14, 2014. The exhibition at the Stapferhaus is opened to the public from November 15 to November 29, 2015.Reuters/Arnd Wiegmann
Say what you want about gold.

But central banks just can't get enough of the yellow metal.

For the third quarter of 2015, central banks continued to bulk up their gold reserves, adding 175 tonnes to official reserves, according to the World Gold Council.

Although this is a 3% drop year-over-year, it's important to note that 2014's Q3 numbers were at a record high of 179.5 tonnes. (So another way of looking at it is that 2015 almost equaled the record amount.)

Total net purchases for the first nine months of the year amounted to 425.8 tonnes. Russia remained the most significant purchaser this year. But China stole the show when, after years of silence, they decided to start reporting changes to their reserves more regularly.

Advertisement

Using the WGC's data, we put together a list of the biggest gold hoarders out there. Check them out below.

Next Article