Vietnam's Gold Reserves - 2026 Gold Reserve Rankings
Key Takeaways
- Gold has long become a symbol of stability and prosperity in global finance. In Vietnam, gold reserves are not only an important part of the national economic strategy but also reflect skill...
Gold has long become a symbol of stability and prosperity in global finance. In Vietnam, gold reserves are not only an important part of the national economic strategy but also reflect skill in dealing with economic challenges and market fluctuations. In this article, Jemmia will provide a comprehensive perspective on Vietnam's gold reserves, their role in the domestic economic context, as well as how Vietnam uses gold to protect the value of national assets.
How much gold does Vietnam have? What rank does it hold in the world?
According to data from the Swiss Central Bank, from 1990 to 2011, Vietnam imported a total of about 500 tons of gold. Of this amount, around 100 tons were deposited as savings in banks, while the remaining 400 tons were held by the public.
According to research by the Gold Fields Mineral Services (GFMS), the amount of gold held by the Vietnamese people is estimated to be up to 460 tons. The World Gold Council (WGC) reported in 2015 that Vietnam's official gold reserves were about 10 tons, but the list of the top 100 countries with the highest gold reserves did not include Vietnam. This may be because data from the State Bank was not updated or disclosed.
Notably, some studies that accumulated the amount of gold Vietnam has imported and traded internationally from 2000 to the present estimate that the amount of gold accumulated among the public has reached 1,072 tons. This is a very significant figure but is not reflected in the official national reserve statistics.
Data on global gold reserves is usually taken from the International Financial Statistics (IFS) of the International Monetary Fund (IMF) and reports from the World Gold Council (WGC).
Top 10 countries with the highest gold reserves in the world
This information was updated to May 2024, based on reports from reputable sources such as Visual Capitalist, VnEconomy, along with analyses from the international financial market. Accordingly, the United States still maintains the leading position in gold reserves, much of which is stored at Fort Knox. Germany and Italy rank second and third respectively, with most of their gold stored at each country's central bank:
Rank | Country | Output (Tons) | Proportion | Region |
1 | United States | 8.133,5 | 69.9% | Gold is mainly concentrated at Fort Knox, the largest gold vault in the world |
2 | Germany | 3.355,1 | 69.1% | Managed by the Bundesbank, with part of the gold stored abroad. |
3 | Italy | 2.451,8 | 65.9% | The Bank of Italy is where the nation's main gold reserves are kept. |
4 | France | 2.437,7 | 67.3% | Gold managed by the Banque de France. |
5 | Russia | 2.332,7 | 26,0% | Has strongly increased gold reserves to reduce dependence on the USD. |
6 | China | 2.068,1 | 4.3% | It is the largest gold-producing country, with reserves increasing steadily. |
7 | Switzerland | 1.040,1 | 8.5% | Famous for its banking industry and secure gold storage. |
8 | Japan | 846,0 | 4.4% | Gold is mainly held by the Bank of Japan (BoJ). |
9 | India | 768,8 | 8.8% | Gold reserves are increasing steadily, mostly used for national reserves and culture. |
10 | Netherlands | 612,5 | 58.3% | The Dutch Central Bank manages the gold, with part stored in the US and the UK. |
Note: Reserve proportion is the ratio of gold in the total value of a country's reserve assets, including foreign currencies, bonds, and other assets.
Why do countries prioritize reserving gold bars and physical gold?
Many countries around the world pay special attention to reserving physical gold, in which gold bars are considered the most common form. This is regarded as a measure to ensure safety in the context of a highly volatile global economy that frequently faces the risk of recession. So why do countries prioritize reserving gold bars and physical gold? The reasons are:
Stability and value preservation: Gold is not only less affected by inflation but also retains its value over a long period. This is why countries use gold as a "hedge" to protect assets against economic fluctuations.
An asset independent of the current financial system: While fiat money can lose value due to inflation or unstable economic policies, gold is a physical asset not directly controlled by any government. This makes gold a safe long-term choice.
Strengthening confidence in the financial system: Accumulating gold helps maintain the confidence of people and financial institutions in the stability of the national financial system. This is an important tool to ensure financial safety during difficult times.
High liquidity and intrinsic value: Not only is it a highly liquid asset, but gold also carries intrinsic value, unaffected by technical or political factors. This makes gold an outstanding store of value.
Part of the national reserve strategy: Many countries use gold to diversify their national asset portfolios, minimizing the risk of dependence on volatile financial instruments such as foreign exchange or international bonds.
The above article by Jemmia has provided information about Vietnam's gold reserves. Hopefully, this information will help you better understand Vietnam's gold reserves in particular and the world's in general. Follow Jemmia to learn more information about gold and diamonds.
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