India stands 11th in WGC's world official gold holdings list

Gold  |  2013-06-17 07:08:26   |   By

The World Gold Council (WGC) has published May 2013 edition of world official gold holdings, based on the International Monetary Fund (IMF)'s International Financial Statistics (IFS)

NEW DELHI (Scrap Monster) : The World Gold Council (WGC) has published May 2013 edition of  world official gold holdings, based on the International Monetary Fund (IMF)’s International Financial Statistics (IFS). India with total gold holdings of 557.7 tonnes is placed 11th in the list.

The United States tops the list with gold holdings of 8,133.5 tonnes, constituting 75.6% of the total foreign reserves. In the second place is Germany with 3,391.3 tonnes. Germany’s gold holdings constitute 72.4% of the total foreign reserves of the country. IMF has net gold holdings to the tune of 2,814 tonnes.

Italy and France are in fourth and fifth spots respectively. The total gold holdings by Italy as of May 2013 were 2,451.8 tonnes, whereas that of France was a tad less at 2,435.4 tonnes. France is followed by China with a total gold holding of 1,054.1 tonnes.

Switzerland, Russia, Japan and the Netherlands also feature in the top ten with gold holdings of 1,040.1 tonnes, 981.6 tonnes, 765.2 tonnes and 612.5 tonnes respectively.

As per the WGC May ’13 report, India’s gold holdings account for 9.6% of the country’s total foreign reserves.