Official Gold Reserves: These countries have bought gold

Worldwide national gold reserves have risen again. In addition to Russia and China, Turkey’s central bank in particular has recently acquired considerable quantities of gold.


Official gold reserves

The World Gold Council published a new list of global gold reserves. It contains the official national gold reserves as at August/September 2019 and other data available to the lobby association up to the update date.


Turkey the biggest buyer

Russia’s gold reserves are now reported at 2,241.9 tonnes. This corresponds to an increase of 11.5 tonnes. China’s stocks increased by 5.9 tonnes to 1,948.3 tonnes. Turkey is now allocated 385.5 tonnes of gold. This is 23 tonnes more than a month ago. These figures refer only to the purely state reserves. In the figures updated monthly by the Turkish central bank there is also gold that has been deposited with the central bank by commercial banks. And these stocks amounted to the equivalent of 537.81 tons (17.29 million ounces). Uzbekistan last bought 6.5 tonnes of gold and now officially owns 332.2 tonnes of the precious metal.


Emirates acquire gold

The United Arab Emirates increased its gold reserves by 3.9 tonnes and now has 12.4 tonnes of gold. Mongolia, on the other hand, has 2.2 tonnes less gold than a month earlier.


Further changes according to the WGC lists compared to the previous month:

  •     Kyrgyzstan: +0.4 tonnes
  •     Kazakhstan: +0.2 tonnes
  •     Mexico: +0.2 tonnes
  •     Egypt: +0.1 tonnes
  •     Greece: +0,1 tonnes
  •     Serbia: +0.1 tonnes
  •     France: -0,1 tonnes
  •     Thailand: -0,2 tonnes


Almost 100 tons of gold more

The total global gold reserves are now estimated at 34,490.44 tonnes. This is 97.79 tonnes more than in the previous month. It should be noted that the reports follow at different times. Some countries do not provide regular data on their gold reserves. These include Iran, Israel and North Korea.