Rising gold demand in the U.S. is leading to the withdrawal of bullion from several countries, while traders continue to stockpile gold following U.S. President Donald Trump’s tariffs on Canada and Mexico.
According to the World Gold Council (WGC), the U.S. holds the largest gold reserves globally, with 8,134 tons stored in its treasury, making up 75% of total reserves.
Germany ranks second with 3,352 tons of gold, representing 74.3% of its total reserves. Meanwhile, China, which is engaged in a trade war with the U.S., is increasing its gold reserves and currently holds 2,280 tons, ranking 6th globally.
With escalating trade wars, gold prices continue to hit record highs as global markets seek safe-haven assets.
U.S. Moves 600 Tons of Gold Since December
The strong demand for gold in the U.S. has led to the withdrawal of bullion from various countries. According to Adrian Ash, Research Director at BullionVault, there is now a “gold surplus” in New York vaults. Since December 2024, over 600 tons (approximately 20 million ounces) of gold have been transported to New York.
John Reade, Asia and Europe Market Strategist at the World Gold Council, emphasized that such a massive influx of gold into New York is unusual, stating:
“This only happens under extraordinary circumstances.”
Three EU Nations in the Top 5 of Gold Reserves
Germany holds the second-largest gold reserves with 3,352 tons, making up 74.3% of its total reserves. Following Germany, Italy ranks third with 2,452 tons (70.7% of reserves), while France is fourth with 2,437 tons (72.2% of reserves).
China Ranks 6th, But Gold Makes Up Only 5% of Its Reserves
China, locked in a trade dispute with the U.S., has been boosting its gold holdings. The country currently possesses 2,280 tons of gold, ranking 6th in the world. However, what stands out is that gold accounts for only 5.5% of China’s total reserves, significantly lower than other leading nations.
Türkiye Among the World’s Top 10 in Gold Reserves
Türkiye ranks 10th in global gold reserves, holding 615 tons of gold, according to World Gold Council data. This represents 35.7% of Türkiye’s total reserves.
According to Türkiye’s Central Bank, the country’s gross gold reserves are valued at $72.3 billion.