According to the World Gold Council, India has toppled the Netherlands to move into the list of top ten countries in terms of total gold reserves in 2019.
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According to the latest release by the World Gold Council, U.S. leads the country list with total gold reserves of 8,133.5 tonnes followed by Germany with 3,366.8 tonnes.
While the International Monetary Fund (IMF) is ranked third with a holding of 2,451.8 tonnes, it is followed by Italy (2,451.8 tonnes), France (2,436.1 tonnes), Russia (2,219.2 tonnes), China (1,936.5 tonnes), Switzerland (1,040 tonnes) and Japan (765.2 tonnes) before India (618.2 tonnes) at the 10th spot.
Interestingly, in terms of individual countries, India actually ranks ninth since the IMF occupies the third position after the U.S. and Germany.
India’s gold reserves have grown substantially in the past couple of decades from 357.8 tonnes in the first quarter of 2000 to the current 618.2 tonnes.
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