What are the top central bank gold reserves?

Netherlands Rounding out this list of the top central bank gold reserves is the Dutch National Bank (DNB), the central bank of the Netherlands. Like Switzerland, the Dutch central bank stores as much as 38 percent of its gold in Canada’s national reserve.

What is a gold reserve?

A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money ), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of the national currency .

Why do central banks buy gold?

Global central banks own about one-fifth of all the gold ever mined, with reserves topping 35,715 metric tons (MT). They acquired the vast majority in the last decade, when they became net buyers of the metal. Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation and to promote economic stability.

How much gold did the US Central Bank hold?

At that point, the United States central bank kept approximately 67 percent of its total monetary holdings as gold reserves. You only have access to basic statistics. Business Solutions including all features. * Prices do not include sales tax.