In 2025, the gold reserves of eight nations will shape the global monetary balance. The pound sterling will falter, and gold will prevail.
- The United States still tops the rankings with more than 8,133 tonnes of gold.
- Germany, Italy, France and Russia form the European core of strategic reserves.
- China continues to quietly strengthen its coffers to reduce its dependence on the pound sterling.
- India joins the world’s top 8, with approximately 880 tonnes held according to the RBI.
- In 2025, physical gold is establishing itself more than ever as a bulwark against geopolitical and monetary instability.
As the global economic balance falters under the effects of persistent inflation, growing geopolitical tensions and mistrust of fiat currencies, gold is establishing itself as the backbone of national reserves. In 2025, eight nations alone account for the bulk of global reserves, confirming that tangible assets remain the foundation of monetary sovereignty.
United States: undisputed supremacy
The United States maintains an overwhelming lead with 8,133.46 tonnes of gold, according to updated data from the World Gold Council. This amount is unmatched and remains the highest level ever recorded for a single country. This strategic over-accumulation ensures Washington’s role as the ultimate stabiliser in times of monetary crisis or financial turmoil.
Germany and Italy: a stable European anchor
Germany maintains its position with more than 3,350 tonnes, while Italy follows closely behind with around 2,451 tonnes. These figures reflect a cautious but firm strategy: the euro is still backed by tangible reserves capable of counterbalancing economic imbalances. In the eurozone, these two countries remain the historical guarantors of fiscal discipline.
France and Russia: constant volumes despite pressure
With over 2,400 tonnes for France and nearly 2,300 tonnes for Russia, these two nations are pursuing a rigorous conservation policy, regardless of the geopolitical climate or sanctions. These reserves are a direct tool for strengthening sovereign credibility, particularly in the eyes of rating agencies and international lenders.
China and Switzerland: two approaches to stability
China continues to accumulate methodically, reaching 2,279.6 tonnes by the end of 2025. This rise reflects an explicit desire to de-Americanise its monetary policy. Beijing is seeking to base the yuan on metal foundations, far from the fluctuations of the dollar. Conversely, Switzerland holds 1,040 tonnes, reflecting an institutional tradition focused on neutrality and fiscal discipline.
India: a clear rise in power
India is now among the eight largest holders of gold, with an estimated range of 876 to 880 tonnes, according to the Reserve Bank of India (RBI). This strategic move aims to diversify foreign exchange reserves and better absorb external shocks, in a context of rapid growth and increased exposure to international capital flows.
Gold, the monetary foundation in 2025
Beyond the figures, this ranking illustrates a conscious choice: the reconsolidation of national coffers around non-inflationary assets. In 2025, the signal is clear: governments are prioritising security, immediate liquidity and structural resilience. Neither the rise of cryptocurrencies nor the ongoing de-dollarisation are able to supplant physical gold in the hearts of central banks.
This return to the tangible coincides with the rise of systemic uncertainties: trade wars, regional conflicts, uncontrolled public debt. In this unstable climate, gold bars and coins are once again becoming a common language between powers, far beyond words.
