Vietnam's Gold Reserves - 2026 Gold Reserves Ranking
Key Takeaways
- Gold has long been 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 ingenuity...
Gold has long been 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 ingenuity in dealing with economic challenges and market fluctuations. In this article, Jemmia will provide a comprehensive overview of Vietnam's gold reserves, its role in the domestic economic context, and how Vietnam uses gold to protect national asset values.
What is Vietnam's gold reserve? What is its world ranking?
According to data from the Swiss National Bank, from 1990 to 2011, Vietnam imported a total of about 500 tons of gold. Of this, about 100 tons were deposited in banks, while the remaining 400 tons are in the hands of the people.
According to research by the British Gold Mining Association (GFMS), it is estimated that the amount of gold held by the Vietnamese people reaches 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 does not include Vietnam. This may be due to the State Bank's data not being updated or publicly disclosed.
Notably, some studies combining Vietnam's imported and internationally traded gold from 2000 to the present estimate the amount of gold accumulated by the public to be 1,072 tons. This is a significant figure but is not reflected in official national reserve statistics.
Global gold reserve data is typically sourced 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 is updated as of May 2024, based on reports from reputable sources such as Visual Capitalist, VnEconomy, and analyses from international financial markets. Accordingly, the United States maintains its leading position in gold reserves, with the majority stored at Fort Knox. Germany and Italy rank second and third, respectively, with their gold primarily held at each country's central bank:
Rank | Country | Volume (Tons) | Proportion | Location |
1 | USA | 8,133.5 | 69.9% | Gold is mainly concentrated at Fort Knox, the world's largest gold vault |
2 | Germany | 3,355.1 | 69.1% | Managed by the Bundesbank, with some gold stored abroad. |
3 | Italy | 2,451.8 | 65.9% | The Bank of Italy is where the country's main gold reserves are held. |
4 | France | 2,437.7 | 67.3% | Gold managed by the Banque de France. |
5 | Russia | 2,332.7 | 26.0% | Has significantly increased its gold reserves to reduce dependence on the US dollar. |
6 | China | 2,068.1 | 4.3% | The largest gold-producing country, with increasing reserves. |
7 | Switzerland | 1,040.1 | 8.5% | Known for its banking sector and as a safe gold storage location. |
8 | Japan | 846.0 | 4.4% | Gold is primarily held by the Bank of Japan (BoJ). |
9 | India | 768.8 | 8.8% | Gold reserves increase steadily, largely used for national reserves and cultural purposes. |
10 | Netherlands | 612.5 | 58.3% | The Dutch Central Bank manages the gold, with some stored in the US and UK. |
Note: Reserve proportion is the ratio of gold in the total value of a country's reserve assets, including foreign currency, bonds, and other assets.
Why do countries prioritize holding gold bars and physical gold?
Many countries around the world pay special attention to holding physical gold, with gold bars being the most popular form. This is considered a measure of safety in the context of a volatile global economy that frequently faces the risk of recession. So, why do countries prioritize holding 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 long periods. This is why countries use gold as a "hedge" to protect assets against economic fluctuations.
Asset Independent of the Current Financial System: While fiat currencies 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 choice in the long term.
Enhancing Confidence in the Financial System: Accumulating gold helps maintain the confidence of the public and financial institutions in the stability of the national financial system. This is an important tool to ensure financial security during difficult times.
High Liquidity and Intrinsic Value: Not only is gold a highly liquid asset, but it also has intrinsic value, unaffected by technical or political factors. This makes gold a superior store of value.
Part of National Reserve Strategy: Many countries use gold to diversify their national asset portfolio, reducing the risk of dependence on volatile financial instruments such as foreign exchange or international bonds.
The article by Jemmia has provided information about Vietnam's gold reserves. We hope this information will help you understand Vietnam's gold reserves in particular and the world's in general. Follow Jemmia for more information on gold and diamonds.
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