Taiwan has achieved a notable position in global gold reserves, securing the 12th spot in the first quarter of 2024, according to the latest data from the World Gold Council (WGC).
The WGC’s report places the United States at the top, with a staggering 8,133.46 tonnes of gold, valued at approximately $579 billion. Germany follows with 3,352.65 tonnes worth about $238.6 billion, while Italy holds the third position with 2,451.84 tonnes valued at $174.5 billion.
Taiwan’s gold reserves stand at 422.38 tonnes, valued at roughly $28.225 billion (NT$916 billion). This positions Taiwan within the top 20 globally, highlighting its significant reserve amidst growing economic uncertainties.
France ranks fourth with 2,436.88 tonnes, followed by Russia with 2,332.74 tonnes. China, Switzerland, Japan, India, and the Netherlands complete the top ten, with respective reserves of 2,262.45 tonnes, 1,040 tonnes, 845.97 tonnes, 822.09 tonnes, and 612.45 tonnes.
In the 11th to 15th spots are Turkey with 570.30 tonnes, Taiwan, Portugal with 382.63 tonnes, Poland with 359.89 tonnes, and Uzbekistan with 357.69 tonnes.
Regionally, Taiwan ranks fifth in Asia, behind China, Japan, India, and Turkey.
Saudi Arabia holds the 16th position with 323.07 tonnes, followed by Kazakhstan (310.62 tonnes), the United Kingdom (310.29 tonnes), Lebanon (286.83 tonnes), and Spain (281.58 tonnes), completing the top 20 list.
The WGC emphasizes gold’s importance in central bank reserves due to its “safety, liquidity, and return characteristics.” It notes that central banks globally hold about one-fifth of all gold ever mined.
Forbes reports a surge in gold demand driven by increasing economic uncertainty, with central banks increasingly viewing gold as the “preferred safe-haven asset.”
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