Gold smashed through barriers Thursday, spiking $12 to hit a record $3,050 per ounce, as jittery markets fuel a relentless rally. With geopolitical tensions simmering and economic storm clouds gathering, the yellow metal’s allure as a safe haven is undeniable. Amid this surge, central banks are doubling down, spotlighting the nations with the heftiest gold reserves—and their strategic edge in a shaky world. Gold Strikes Historic $3,050 Peak
The United States reigns supreme, clutching 8,133.5 tonnes, much of it stashed in Fort Knox’s impenetrable vaults. This colossal stockpile, dwarfing all others, cements America’s financial dominance as gold’s value soars. Germany trails with 3,351.5 tonnes, its reserves a bedrock of stability in Western Europe, where the region’s total hits 11,773.55 tonnes—outpacing North America. Italy follows with 2,451.8 tonnes, then France with 2,437 tonnes, both banking on gold to weather economic turbulence. The International Monetary Fund rounds out the top five, holding 2,814 tonnes as a global stabilizer.
Beyond the West, Russia grips 2,329.6 tonnes, its stockpile swelling as a counterweight to dollar reliance. China, with 2,284.5 tonnes, dominates East Asia’s 3,229.97-tonne total, trailed by Japan (846 tonnes) and South Korea. Switzerland holds 1,039.9 tonnes, while India leads South Asia with 940.92 tonnes after snapping up 22.54 tonnes in 2024. Turkey’s 619.9 tonnes and Pakistan’s modest 64.7 tonnes show the range of gold’s grip across regions.
Central banks are driving this frenzy, scooping up over 1,000 tonnes in 2024—the third straight year of blockbuster buying, per the World Gold Council. In 2025, Poland, India, China, Kyrgyzstan, and Uzbekistan lead the charge, hedging against rising global debt and recession fears. Gold’s 16 record highs this year—four breaching $3,000—signal no slowdown, with analysts eyeing a potential $3,500 peak.
What’s fueling this fever? Tariff uncertainty, Middle East unrest, and the U.S. Federal Reserve’s looming rate cuts are stoking demand. A global monetary easing cycle only adds kindling, positioning gold as a fortress against sanctions and volatility. As nations fortify their vaults, the metal’s role as a liquid, high-return asset grows—proving that in chaos, gold still glitters brightest.
