{"id":66114,"date":"2014-08-20T00:05:56","date_gmt":"2014-08-19T22:05:56","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=66114"},"modified":"2014-08-19T17:40:19","modified_gmt":"2014-08-19T15:40:19","slug":"the-worlds-largest-gold-hoarders","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/66114\/the-worlds-largest-gold-hoarders\/","title":{"rendered":"The world’s largest gold hoarders"},"content":{"rendered":"

The latest report from the World Gold Council (WGC) reveals which nation is holding onto the most gold across the globe.<\/p>\n

The International Monetary Fund’s (IMF) data shows that total global gold holdings amount to 31.8 kilotonnes (31.8 million kilograms) as at August 2014.<\/p>\n

At a spot price of US$1,298.96 per ounce (Bloomberg, 19 August), the total value of the global holdings in gold (1,12 billion oz) is US$1.46 trillion<\/strong>.<\/p>\n

The value of gold holdings is calculated using the end of month London PM fix gold price published daily by The London Gold Market Fixing.<\/p>\n

With a massive hold on 8.1 kilotonnes of gold, the United States remains the biggest hoarder of the metal in the world.<\/p>\n

The USA’s holdings far outweigh the second and third largest holders, Germany and the IMF, which have 3.4 kilotonnes and 2.8 kilotonnes of gold, respectively.<\/p>\n

South Africa, with a holding of 125.1 tonnes, ranks 29th overall, but is not the biggest gold holder in Africa, with the top spot on the continent held by Algeria, with a 173.6 tonnes of gold held.<\/p>\n

Top 10 global gold hoarders<\/h3>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/strong><\/td>\nCountry<\/strong><\/td>\nGold Holdings (Tonnes)
\n<\/strong><\/td>\n<\/tr>\n
1<\/td>\nUnited States<\/td>\n8,133.5<\/td>\n<\/tr>\n
2<\/td>\nGermany<\/td>\n3,384.2<\/td>\n<\/tr>\n
3<\/td>\nIMF<\/td>\n2,814.0<\/td>\n<\/tr>\n
4<\/td>\nItaly<\/td>\n2,451.8<\/td>\n<\/tr>\n
5<\/td>\nFrance<\/td>\n2,435.4<\/td>\n<\/tr>\n
6<\/td>\nRussia<\/td>\n1,094.7<\/td>\n<\/tr>\n
7<\/td>\nChina<\/td>\n1,054.1<\/td>\n<\/tr>\n
8<\/td>\nSwitzerland<\/td>\n1,040.0<\/td>\n<\/tr>\n
9<\/td>\nJapan<\/td>\n765.2<\/td>\n<\/tr>\n
10<\/td>\nNetherlands<\/td>\n612.5<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Top 10 African gold hoarders<\/h3>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/strong><\/td>\nCountry<\/strong><\/td>\nGold Holdings (Tonnes)
\n<\/strong><\/td>\n<\/tr>\n
24<\/td>\nAlgeria<\/td>\n173.6<\/td>\n<\/tr>\n
29<\/td>\nSouth Africa<\/td>\n125.1<\/td>\n<\/tr>\n
31<\/td>\nLibya<\/td>\n116.6<\/td>\n<\/tr>\n
41<\/td>\nEgypt<\/td>\n75.6<\/td>\n<\/tr>\n
58<\/td>\nMorocco<\/td>\n22.0<\/td>\n<\/tr>\n
60<\/td>\nNigeria<\/td>\n21.4<\/td>\n<\/tr>\n
72<\/td>\nGhana<\/td>\n8.7<\/td>\n<\/tr>\n
79<\/td>\nTunisia<\/td>\n6.8<\/td>\n<\/tr>\n
83<\/td>\nMozambique<\/td>\n5.0<\/td>\n<\/tr>\n
86<\/td>\nMauritius<\/td>\n3.9<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

According to Metals Focus’ Gold and Silver Mining Focus 2014<\/a>, emerging and developing markets including South Africa make up the bulk of the world’s top gold producers.<\/p>\n

As recently as 2006, South Africa was known as the world’s top gold producer, but has since slipped to 5th position, below the USA, Russia, Australia and China.<\/p>\n

China is the world’s top producer of gold, with a 14.1 million ounce output in 2013.<\/p>\n

Notably, South Africa and Australia, as two of the world’s biggest gold producers, hold relatively little of the resource they mine (ranked 29th and 38th, respectively).<\/p>\n

Top 5 global gold producers 2013<\/h3>\n
\n\n\n\n\n\n\n\n
#<\/strong><\/td>\nCountry<\/strong><\/td>\nOutput (Millions oz)
\n<\/strong><\/td>\n<\/tr>\n
1<\/td>\nChina<\/td>\n14.1<\/td>\n<\/tr>\n
2<\/td>\nAustralia<\/td>\n8.53<\/td>\n<\/tr>\n
3<\/td>\nRussia<\/td>\n7.99<\/td>\n<\/tr>\n
4<\/td>\nUnited States<\/td>\n7.42<\/td>\n<\/tr>\n
5<\/td>\nSouth Africa<\/td>\n5.84<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

More on South Africa<\/h3>\n

Most influential city in South Africa<\/a><\/strong><\/p>\n

Best university in South Africa<\/a><\/strong><\/p>\n

Only 13% of South Africans employed full time: study<\/a><\/strong><\/p>\n

South Africa\u2019s big economic plans<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The latest report from the World Gold Council (WGC) reveals which nation is holding onto the most gold across the globe.<\/p>\n","protected":false},"author":10,"featured_media":66120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[8640,26,853,8642],"class_list":["post-66114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-gold","tag-headline","tag-south-africa","tag-world-gold-council"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/66114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=66114"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/66114\/revisions"}],"predecessor-version":[{"id":66202,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/66114\/revisions\/66202"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/66120"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=66114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=66114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=66114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}