Which Nations Have Been Buying Gold?

India’s gold reserve levels are the ninth highest in the world. One of the biggest purchases of gold was in 2009 when the Reserve Bank of India purchased 200 metric tons of gold from the International Monetary Fund (IMF), under the IMF’s limited gold sales program. This took its reserves to 537 tons. In the last five years, India has continued to add gold to its reserves, which have swelled its gold holdings from 557.77 tons at the end of 2016 to 754.1 tons at the end of 2021 with 77.45 tons bought alone in 2021. During Q1 2022, India added 6.31 tons, taking its total gold reserve holdings to 760.4 tons. Gold currently constitutes around 6.86% of its total reserves. Globally, India is among the largest importer and consumer of gold. During 2021, India imported 1,067 tons of gold, higher than 836.38 tons of imports in 2019.

Rounding Up 

Kazakhstan, Hungary, Thailand, Japan and Brazil round up the top ten nations.

• During 2017-2021, Kazakhstan added a total of 127.43 tons of gold in three tranches. However, around 34.26 tons were sold during Q1 2022, reducing the net buy to 93.17 tons over this period.
• Over the years, Hungary’s gold stock remained unchanged at 3.1 tons until 2018. Hungary added a total of 91.41 tons in the last five years with 62.98 tons added in 2021.
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• Thailand added 90.2 tons of gold to its reserves in 2021, taking its total reserves in gold to 244.16 tons.
• Japan holds the eighth largest gold reserves in the world, which constitute 3.9% of its total reserves. Its gold reserves have remained constant at 765.22 tons since long. However, 2021 witnessed an addition of 80.76 tons.
• Brazil added 62.29 tons of gold in 2021.

Disclaimer:

The report has been carefully prepared, and any exclusions or errors in reporting are unintentional. The author has no position in any stocks mentioned. Investors should consider the above information not as a de facto recommendation, but as an idea for further consideration. The data is based on World Gold Council reports as well as individual country wise central bank figures.

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