Eight countries in the world have gold reserves exceeding 1,000 tons, and five of them are located in Europe. These countries hold a total of almost 11,560 tonnes of the precious metal, and in some of them its share in total reserves exceeds 50%.
As of April 2021, the countries entering the Eurozone own 10,772 tons of gold, according to data from the World Gold Council. In the first place is Germany with those of 3361 tons, which represent 75% of its reserves. Four years ago, the country regained all its reserves in the precious metal from New York and Paris, valued at 238 tons of gold.
Germany collects its gold reserves from the United States and France
Nearly half are already in Frankfurt
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In second place among European countries is Italy with 2451 tons, followed by France with 2436 tons as of April 2021.
Immediately after them is the Russian Federation with 2292 tons. Earlier this year, the country achieved a historic change in its reserves. Then it became clear that for the first time those in dollars were less than gold as a share of total reserves.
While by 2018 Russia’s reserves in dollars were over 40%, now they are almost half. On the other hand, gold has a share of 22.1% of them.
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For the first time in history: Russia has more gold than dollars
The only major asset in its central bank’s portfolio is the euro
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Switzerland is also in the group of European countries with gold reserves of more than 1,000 tons. They are exactly 1040 tons as of April this year, but form a very small part of its total reserves – only 5.6 percent.
Who are the leaders in Eastern Europe and where is Bulgaria?
In Central and Eastern Europe (CEE) with the largest gold reserves has the number one economy in the region – Poland. At the time considered, they amounted to 228 tonnes.
Months ago, the country’s central bank announced plans to continue increasing its precious metal reserves in the future. The financial institution then said it was preparing to buy 100 tonnes over the next few years.
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The №1 economy in Eastern Europe is “hungry” for gold. And he wants to buy 100 tons of metal
Last year, it regained gold reserves held in England
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After Poland in the CEE is Romania with 103 tons, and close to it is Hungary. Two months ago, Budapest completed one of the largest gold purchases in decades, adding 63 tonnes of gold to its reserves, which now total 94 tonnes.
Bulgaria ranks fifth among the countries in the region in terms of gold reserves. According to the World Gold Council, as of April 2021, they are estimated at 40 tons, equivalent to 1.286 million troy ounces. The report of the Bulgarian National Bank (BNB) for the past year shows that 11,114 troy ounces of metal were purchased.
