What is the world's gold reserves?

Ever wonder how much gold there is in the world and who owns it? We examine the top nations with the largest gold reserves

Gold is a hot topic, whether it's because of a highly sought-after piece of jewelry or because the price per ounce has skyrocketed once more.

According to the Royal Mint, the precious metal started to exist around 3600 BC. It claims that the first time gold was melted and extracted in Ancient Egypt was at this time.

Gold is "more plentiful than dirt" according to Egyptian hieroglyphs written much later, in 2600 BC. The first known map, which depicts a gold mine's layout, was created during this period. The first gold jewelry is also seen at this time.

Even now, gold is still recognizable. You can possess it as gold coins, gold bars, and jewelry. By offering the opportunity to buy a portion of a physical gold bar for as little as £20 and store it in The Royal Mint's state-of-the-art vault, you can even own digital gold.

In a world that is becoming more unstable, gold is frequently regarded as a safe-haven asset, with investors using it as a store of value.

In 2024, demand for the precious metal reached a record high and has continued to rise. Its value becomes more attractive as interest rates fall. But how much gold is there in the world?

What is the global amount of gold?

Approximately 216,265 tonnes of gold have been extracted from mines worldwide, according to estimates from the World Gold Council (WGC).

According to the report, since 1950, roughly two-thirds of this gold has been extracted. The discovery of new gold deposits and improvements in mining technology are responsible for this enormous increase in production.

A single cube made of all this gold would be about 22 meters on each side, according to the WGC's estimation.

Gold mining is still going on, though. Mine production reached a first-quarter record of 856 tonnes, according to the WGC, while the overall Q1 gold supply increased 1% year over year to 1,206 tonnes.

Top nations with the largest reserves of gold.

According to WGC data, Germany, the International Money Fund (IMF), Italy, France, and the United States have the most gold in reserve.

The World Gold Council is the source.

How much gold is there in the United Kingdom?

According to WGC data, the United Kingdom possesses 310.3% of the world's gold reserves. Gordon Brown controversially decided to sell over half of the United Kingdom's gold reserves, or about 400 tonnes, for £3.05 billion in 1999. In current currency, that amounts to approximately £6.66 billion (5.22 billion).

In the years that followed the sell-off, the price of gold skyrocketed. Many people, including those at the Bank of England, warned against the move at the time.

Approximately 406,650 bars of gold, valued at over 390 billion, are currently stored in the Bank of England's gold vaults. The New York Federal Reserve is the world's largest gold keeper, with the Bank of England ranking second. In addition to HM Treasury, the Bank also holds the UK's gold reserves for other central banks and some private companies.

But in the UK, there are a lot more vaults than this one. The London Bullion Market Association, or LBMA, reports that as of the end of March 2025, 8,488 tonnes of goldworth an astounding £850 millionwere stored in all London vaults. This amounts to roughly 679,068 gold bars.

Previously, you could exchange banknotes for the same amount of gold at the Bank of England, but since the early 1930s, this has not been feasible. There are two real gold bars on display at the Bank of England Museum, and you can hold one.

What is the US gold price?

The United States has 8,133,5 tonnes of gold in reserve, according to WGC data.

Along with holding gold for central banks and monetary authorities around the globe, the Federal Reserve Bank of New York is home to the largest gold depository in the world. It also holds a small amount of the gold owned by the US government. "The Federal Reserve System and the New York Fed do not own any of the gold kept in the vault," it reads.

Other nations sought to guarantee that their gold reserves were kept in a secure location, and some of the vaulted gold arrived during and after World War II.

Does the market for gold still exist?

Reviving strong demand for bars and coins, especially in China, contributed to a 1% year-over-year increase in demand, according to the World Gold Council's Q1 2025 Gold Demand Trends report.

It stated that, despite continued global uncertainty, central banks are now starting their 16th year of net-buying, increasing global reserves by 244 tonnes in Q1.

Despite being 21% lower than the previous year, this level of demand is still strong and consistent with the quarterly average for the previous three years of consistent, robust buying.

In what way is gold worth something?

Supply and demand, interest rates, and market volatility are some of the factors that can influence the value of gold, which has seen significant price fluctuations over time.

Gold's value frequently rises when stock markets decline and doesn't typically fluctuate in tandem with other assets like shares or real estate. For this reason, a lot of people consider it to be an investment.

What is the value of gold?

The price of gold reached a low of £274 per ounce in 1970 and a high of £2,499 per ounce just ten years later, in 1980.

After hitting £3,000 in March, the price of gold in 2025 has been reaching all-time highs. Then, in April, as investors sought a safe haven for their money during periods of volatile stock markets, it skyrocketed to £3,500.

But things are subject to change at any time. Although gold is thought to be a safe haven, its price is not always stable.