We all know gold plays a massive role in the global economy. These gold reserves protect a country’s financial foundation during tough times. China showed massive aggression in the latest global data for gold reserves. The country pushed Russia behind to become the fifth-largest gold-holding nation in the world. Only the USA, Germany, Italy, and France stay ahead of China right now.
The Kobeissi Letter, a popular financial platform, released these new numbers. China currently holds a massive 2,410 tonnes of gold. The country is inching very close to the top-three list. France holds 2,437 tonnes, while Italy sits at 2,452 tonnes.
This means China trails France by just 27 tonnes and Italy by 42 tonnes. India secured the eighth spot on this list with 881 tonnes of gold. You should note that China holds almost three times more gold than India.