Gold Reserves By Country: 2018 (Tonnes) 1. USA = 8134.00 2. Germany = 3373.60 3. Italy = 2451.80 4. France = 2436.00 5. Russia = 1857.70 6. China = 1842.60 7. Switzerland = 1040.00 8. Japan = 765.20 9. Netherlands = 612.50pic.twitter.com/iBvG0b7uMr
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Wheres India? Thought they would be top 10
Those are just official reserves, gold holding in India is far more decentralized, since their jewelry has high gold content and they treat it as SoV.
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Highly decentralized ownership, and that makes it highly unpredictable. I have lived in various parts of India. There are Places where gold is just not SoV, but also holds religious and emotional value. Every Indian feom lower middle class and above, owns gold.
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Indeed outside of modern Western culture a store of value function is usually condensed with display of wealth and often has religious implications.
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Up till 25 years back there was a very tight cap (Gold control act 1968-1992), but now tonns of retail and unaccounted gold enters India, mostly through middle east.
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If I am not wrong, India was 10th in the list put out by Forbes in 2016. Things might be different now, though.
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Is this what the countries "own" or hodl? I mean. Do they have their private keys. I mean. Is this gold actually stored between these bordes or outside.. ps China is hoarding.
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