Annual Changes in Central Bank Gold Reserves The significant increase in gold reserves by China, Poland, and Singapore in 2023 reflects a broader trend of central banks expanding their holdings of bullion amid escalating geopolitical and economic risks. Image: BofA Global Research
Gold Reserves by Country The United States has the largest gold reserve, followed by Germany. Image: IMF
Countries with the Largest Gold Reserves Worldwide This chart shows that the U.S. has the largest gold reserve, followed by Germany. Image: Statista
Gold Reserves Around the World The U.S. has the world’s largest gold reserves, followed by Germany, the International Monetary Fund (IMF) and France. Image: howmuch.net Click the Image to Enlarge
Central Bank Reserve Holdings of Gold For the first time since the end of WWII, central banks are increasing their holdings of gold to diversify their reserves away from the U.S. dollar, amid trade tensions. Image: Bernstein
International Liquidity by Country – Total Reserves Excluding Gold, U.S. Dollars USA holds $115 billion and China holds over $3 trillion in reserves. Image: howmuch.net
Performance of Gold and Fed Cutting Cycles Federal Reserve interest rate cuts are often perceived as favorable for gold prices, particularly during periods of economic downturn. Image: Goldman Sachs Global Investment Research
Central Bank Gold Purchases Gold remains a crucial asset for central banks, reinforcing the stability and resilience of their reserves, particularly in periods of currency volatility and economic uncertainty. Image: BofA Research Investment Committee
U.S. Dollar Share of Allocated Reserves The share of the U.S. dollar in global reserves has decreased and now stands at 59%. Image: Goldman Sachs Global Investment Research
Market-Implied Change in Fed Funds Rate Traders are anticipating a total of 75 bps in interest rate cuts by the Federal Reserve over the next 12 months. Image: Goldman Sachs Global Investment Research
Contributions to Year-on-Year U.S. Core PCE Inflation U.S. core inflation has been steadily declining, nearing the Federal Reserve’s 2% objective and suggesting a normalization of price pressures. Image: Goldman Sachs Global Investment Research