Gold has been a highly coveted commodity worldwide for centuries. This precious, versatile metal provides a certain level of security for the countries that keep it, acting as a buffer against rising costs of inflation, and as an insurance policy should any country face an economic crash.
Countries like the US, Australia and South Africa are all well known for their extensive gold reserves, but there are many other gold-rich countries too. In fact, there are at least 25 countries worldwide keeping significant gold reserves. Among them are Uzbekistan, Kazakhstan, Thailand and Poland – four countries you may or may not have expected to be on the list.
Since the demand for gold has spiked in recent years, it’s never been more useful to take a look at exactly where our global supply is coming from. In this guide, we take a look at four countries you might not have expected to have gold reserves.
Uzbekistan
Uzbekistan currently has the 15th largest gold reserve in the world. While the country already has 381 tonnes of mined gold sitting in the Central Bank of Uzbekistan, there’s plenty more yet to be mined – in fact, Uzbekistan sits on an approximate 6,000 tonnes of gold in total.
In 2022, Uzbekistan was the 12th largest producer of the world’s gold, contributing around 3% to the global market. Uzbekistan’s history is rich, and with all sorts of gold items having been discovered dating back to ancient times, this metal has always been a big part of the culture of the region.
Kazakhstan
Sitting in the 16th spot on the list of the world’s largest gold reserves is Kazakhstan, where about 70 to 80 tonnes of gold is produced each year. As of 2024, Kazakhstan is in the process of balancing its reserves, and is expecting to reduce them by 50% capacity in order to replenish foreign currency reserves.
In 2017, the National Bank of Kazakhstan began selling gold bars to the public, allowing their citizens to develop a source of investment and savings.
Thailand
Gold reserves in Thailand are currently at an all-time high, having reached 244 tonnes in 2023. They’ve increased so rapidly that they’ve gone from an all-time low of 72 tonnes in the year 2000, to the amount that they have currently.
Gold is culturally significant in Thailand, and is a celebrated material often gifted at weddings and religious ceremonies. It’s no surprise then that Thailand has one of the largest gold reserves in the world, and sits at number 22 on the list.
Poland
Poland’s gold reserves have rapidly increased in recent years. In June 2019, the country added 94.9 tonnes of gold to its reserves, followed by 14.8 tonnes in April of 2023 – this makes it the country with the 23rd-largest gold reserves in the world.
In the Second World War, much of Poland’s gold was split between the UK, the US and Canada, and stored for safekeeping. Most of this gold has been returned in recent years, and while the majority is now stored at the National Bank of Poland, Poland still has 125 tonnes kept in custodian vaults.
Why should we know where gold comes from?
Money doesn’t always equal wealth, and ultimately, it’s gold stores that ensure a nation’s financial stability. The security of a country affects each of its citizens, and you want to know exactly how safe you are economically in the current climate.
Gold isn’t just for the big players, either. When it comes to precious metals, there are plenty of investment opportunities. Whether you want to buy gold directly, buy into commodity funds or perhaps purchase shares in gold mining companies, there are plenty of options that will bring you a greater sense of financial security.
Just be sure to consider both the benefits and potential risks that come with investing in gold so that you’re in the know prior to taking the plunge. While the value of gold can rise and fall with inflation, it tends to hold its value in the long term – so securing your own store is almost guaranteed to be a worthwhile investment.
