Nations with highest gold reserves
Rank 1 : United States: Total gold reserve: 8,133.5 tonnes : Gold constitutes 74.8% of the country's total forex reserves.
Rank 2 : Germany: Total gold reserve: 3,401.0 tonnes :It constitues 70.8% of the country's total forex reserves.
Rank 3 : Italy: Total gold reserve: 2,451.8 tonnes :It constitues 69% of the country's total forex reserves.
Rank 4 : France: Total gold reserve: 2,435.4 tonnes : It constitutes 65.9% of the country's total forex reserves.
Rank 5 : China: Total gold reserve: 1,054.1 tonnes : It constitutes 1.6% of the country's total forex reserves.
Rank 6 :Switzerland: Total gold reserve: 1,040.1 tonnes : It constitutes 16.3% of the country's total forex reserves
Rank 7 : Russia: Total gold reserve: 792.3 tonnes : It constitutes 7.3% of the country's total forex reserves
Rank 8 : Japan: Total gold reserve: 765.2 tonnes : It constitutes 3.1% of the country's total forex reserves
Rank 9 : Netherlands: Total gold reserve: 612.5 tonnes : It constitutes 58.5% of the country's total forex reserves.
Rank 10 : India: Total gold reserve: 557.7 tonnes : It constitutes 8.3% of the country's total forex reserves
Rank 11 : Taiwan: Total gold reserve: 423.6 tonnes : It constitutes 4.7% of the country's total forex reserves.
Rank 12 Portugal:: Total gold reserve: 382.5 tonnes : It constitutes 82% of the country's total forex reserves
Rank 13 : Venezuela: Total gold reserve: 365.8 tonnes :It constitutes 54% of the country's total forex reserves.
Rank 14 : Saudi Arabia: Total gold reserve: 322.9 tonnes :It constitutes 3% of the country's forex reserves.
Rank 15 : United Kingdom: Total gold reserve: 310.3 tonnes : It constitutes 16% of the country's total forex reserves.
Rank 16 : Lebanon: Total gold reserve: 286.8 tonnes : It constitutes 29% of the country's total forex reserves.
Rank 17 : Spain: Total gold reserve: 281.6 tonnes : It constitutes about 39.2% of the country's total gold reserves.
Rank 18 : Austria: Total gold reserves: 280 tonnes : It constitutes 55.4% of the country's total gold reserves.
Rank 19 : Belgium: Total gold reserves: 227.5 tonnes : It constitutes 37.4% of the country's total forex reserves
Rank 20 :Algeria: Total gold reserve: 173.6 tonnes : It constitutes 4.3% of the country's total forex reserves
(source : http://www.rediff.com/business/slide-show/slide-show-1-nations-with-high... )
so then.... Wheat should be real money... because people wont stop getting hungry... and wheat forms an ingredient to almost any food item.
however, in my opinion, the day for people to get over valuing gold is not near future at all.
plus, paper currency even now is not really worth the figure on it... i.e. if the monetary system collapsed... or even lets say if you cut 100 riyals into two piece you cannot recover 50 riyals off a piece... whereas 100 riyals worth of gold can be divided into two 50 riyal pieces...
Gold is only 'real money' because of perception. It has only a limited intrinsic value in terms of use. The day people stop believing gold is worth a great deal, it become worthless, just like paper currency.
after all gold is real money...
Have they taken into account the the gold the Indian brides wear. Mostly of them are nearly bent down and can hardly walk with all that jewellery on display.
Well if Lebanon made it to the list, Qatar sure can, it is a well known policy of the Central Bank of Lebanon to support the current exchange rates of the local currency through Gold, maybe something not so much needed here due the the availability of Gas and Oil
guilt, hmmm....might be they tie to their Lungi's ? :(
Colt45, Where do they (Mallus) stack their gold? Any idea?
Gold is largely irrelevant to the global economy. The total value of the world's gold is less than $5 trillion. The US GDP is three times that. Total value of the world's assets is $160 trillion, making gold worth about 3%.
maybe he was dealing in gold plated tungsten
Were you a private Banker before you came to Qatar? :-P
Tungsten plated with Gold.
Many nations and banks are reported to be cheating and do not have REAL gold but FAKE.
It is reported that private bankers have stolen the pure gold and replaced with tungsten plated with Gold.
Tungsten and Gold have almost the same density.
qatar is like a small well, albeit gold plated, but sorry to say it has no much significance in big world....
Those Sindhis and Marwari's have all fake gold, it's just for show, no REAL value :-P
TAP OUT. Qatar is not a wealthy country (some wealthy people, but GDP puts it on a par with Bangladesh), and there are no gold mines here. The countries listed above have higher GDPs and/or gold mines.
colt, more than the Mallus it is the Sindhis and Marwaris who will have stocked up more of the same
wb Qatar?
At current prices, that means the US has over $393 billion in gold--hardly anything considering its annual budget.
LP, slightly agree, IMO it's guess-journalism....
Colt-- lol, right
Rank 10 : India: Total gold reserve: 557.7 tonnes : It constitutes 8.3% of the country's total forex reserves - I'm sure they have not taken into account all the gold the Mallu's have stacked back home in Good Ol' Kerala :-P
I don't think that any country unveils their reserves. It's pure propaganda!