Gold reserves - additional information
As of December 2016, the United States had the largest gold reserve – more than 8,000 metric tons of gold. This was more than twice the gold reserves of Germany and more than three times the gold reserves of Italy and France. China was ranked fifth for the amount of gold it has on reserve, but more gold is being mined in China than any other country in the world. While the share of gold reserves constituted 75.3 percent of the U.S. central bank holdings in 2016, in China this figure amounted to only 2.3 percent.
Australia on the other hand, is home to the largest gold mine reserves in addition to being the second largest producer of gold. While gold no longer serves as an object of exchange and as a confirmation value, gold remains an investment asset for governments and it could provide a safeguard against inflation or recession. Yet it would not be the best time to do so, as the average price of gold has dropped slightly in the last few years.