2019 – Posted in: Daily News – Tags: World Gold Council

INDIAN GOLD RESERVE

For: Preliminary & Mains

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According to the World Gold Council, India has gold reserves totaling 618.2 tonnes.

India’s gold reserve is slightly higher than the Netherlands’ reserves of 612.5 tonnes.
The U.S. topped the pack with 8,134 tonnes followed by Germany with 3,367 tonnes.
In terms of individual countries, India actually ranks ninth since the International Monetary Fund (IMF) occupies the third position after the U.S. and Germany.
The International Monetary Fund (IMF) is ranked third with a holding of 2,451.8 tonnes, it is followed by countries such as Italy (2,451.8 tonnes), France (2,436.1 tonnes), Russia (2,219.2 tonnes), China (1,936.5 tonnes), Switzerland (1,040 tonnes) and Japan (765.2 tonnes) before India at the 10th spot.
Pakistan has seen its standing unchanged at the 45th position with total gold reserves of 64.6 tonnes.

The World Gold Council is the market development organisation for the gold industry.
Its purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market.
The World Gold Council includes 25 members and many members are gold mining companies.
It is headquartered in London.
It was established to promote the use of and demand for gold through marketing, research and lobbying.
WGC work with governments, international agencies and policy-makers to develop policies that reduce barriers and improve access to gold.