Considered one of the safest assets in times of crisis, gold continues to arouse the interest of investors around the world. Latin America, a region traditionally rich in this metal and particularly susceptible to currency fluctuations, is no exception.
Data compiled by the consulting firm Trading Economics shows that of the following Latin American countries, Venezuela has the largest gold reserves. According to the latest data released by the Central Bank of the Bolivarian Republic, the country has around 161 tons of gold. This is roughly 25 percent more than Mexico, which had about 120 tons in September 2022. Brazil, on the other hand, ranks second in the region, with 130 tons.
However, the amount of gold available to these Latin American countries is still comparatively low when looking at the gold reserves of nations in other world regions, such as the United States, which takes the lead with a total of more than 8,100 tons.