Home » China, Switzerland, and India Lead the World in Gold Reserves – Sarajevo Times

China, Switzerland, and India Lead the World in Gold Reserves – Sarajevo Times

China, Switzerland, and India Lead the World in Gold Reserves – Sarajevo Times

China, Switzerland and India are leading the way in terms of gold reserve growth, according to data from national central banks.

At the end of September 2024, the foreign exchange assets of the world’s central banks amounted to $14.3 trillion, compared to $12.9 trillion a year earlier.

The absolute leader in their growth was China, which increased its gold and foreign exchange assets by $263.3 billion. Switzerland is in second place with an increase in reserves of $131.9 billion, and India is third with $118.1 billion.

Germany’s reserves increased by $67.2 billion last year, France by $66.1 billion, and Russia by $64.7 billion.

The top ten also includes Singapore with an increase of $52.4 billion, Poland with $38.8 billion, and Brazil with $31.7 billion.

Twenty more regulators, including the central banks of Turkey, Japan and Mexico, increased their assets by between $10 billion and $30 billion, while the remaining seventy saw an increase of up to $10 billion.

At the same time, every tenth financial regulator recorded a decrease in its reserves. They were reduced the most in Bangladesh – by $2 billion, the Dominican Republic by $1.4 billion and Ukraine by $820 million.

Foreign exchange assets decreased in Paraguay, Estonia, Kuwait, Georgia, Armenia, Uganda and the Bahamas.

In terms of the volume of foreign exchange reserves, China retained its long-standing world leadership – at the end of September 2024, its assets amounted to $3.57 trillion. Japan took second place with $1.25 trillion. Switzerland is in third place with assets of $950 billion.

India took fourth place, accumulating assets worth $706 billion, and Russia came in fifth with $634 billion.

The research was conducted based on information from the national central banks of one hundred economies around the world, which published data for September at the end of December 2024.