8 Countries with the Largest Gold Reserves in 2023

6. China 

Gold Reserves In 2023: 2113.46 metric tons 

China is a behemoth in the gold sector, excelling in production and reserves. Mines like Jiama and Zijinshan enhance its gold output. The People’s Bank of China systematically increases gold reserves as a hedge against inflation. A recent discovery in March 2023 added nearly 50 tonnes worth $3 billion to its reserves. The growing affluence of the Chinese middle class fuels gold demand, with an annual consumption of 819 metric tons, the world’s highest.