Global economic gold reserves have seen a notable increase, with identified figures now standing at 66,000 metric tons, a significant jump from the previous report’s 64,000 metric tons. This upward revision, particularly for several key nations, underscores the dynamic nature of the world’s precious metal supply and its critical implications for investors and the mining sector. Understanding which countries hold the largest gold reserves is paramount for gauging long-term supply viability and identifying growth opportunities in the global market.
Gold, a metal revered for millennia, continues its powerful hold as a precious commodity, used in jewelry, as a store of wealth, and in modern industrial and electronic applications. Despite its pervasive presence, gold remains a finite resource. According to World Gold Council data from 2025, only 219,891 metric tons of gold have ever been mined, with two-thirds extracted since 1950. This pales in comparison to the more than 700 million metric tons of copper pulled from the ground, illustrating gold’s scarcity.
For investors keen on gold and the companies involved in its extraction, understanding global gold reserves and related data is crucial. This information provides vital insights into the long-term sustainability of supply and potential areas for growth. Data for this analysis is drawn from the US Geological Survey’s (USGS) 2026 Mineral Commodity Summary and mining companies’ annual reports. While gold is frequently discussed in troy ounces, the USGS utilizes metric tons for its data. For context, 1 metric ton of gold is equivalent to 32,151 troy ounces and was valued at US$145 million at a price of US$4,500 per gold ounce.
Top Gold Reserves by Country
1. Australia
Australia leads globally with 13,000 metric tons of gold reserves, an increase from 12,000 metric tons in 2024, breaking its prior tie with Russia. Over 60 percent of its gold deposits are situated in Western Australia. The nation is also a significant gold producer, ranking third worldwide with 280 metric tons mined in 2025. Major operations include Newmont’s Boddington and Cadia Valley, which produced 565,000 ounces and 385,000 ounces respectively in 2025. The Tropicana mine, a 70/30 joint venture between AngloGold Ashanti and Regis Resources, contributed 436,000 ounces last year.
2. Russia
Russia, with its vast land area, holds 12,000 metric tons of gold reserves, primarily in Eastern Siberia. The country’s gold output remained steady at 310 metric tons in 2025. Polyus’ Olimpiada mine in Siberia is particularly prolific, producing 926,000 ounces in 2025. However, Russian gold has faced market access difficulties following the invasion of Ukraine, with the London Bullion Market Association halting trading and removing Russian refiners from its accredited list in March 2022. Reuters reported significant exports to the United Arab Emirates and increased domestic stockpiling.
3. South Africa
South Africa maintains substantial gold reserves at 5,000 metric tons, with the Witwatersrand Basin recognized as a premier gold jurisdiction. Despite its reserve standing, the country’s gold production has declined significantly, from 431 metric tons in 2000 to an all-time low of 90 metric tons in 2025. This decline is attributed to decreasing gold grades necessitating deeper mining operations—eight of its gold mines are among the world’s 10 deepest, including AngloGold Ashanti’s Mponeng mine at over 4 kilometers below surface. These challenges, coupled with electricity grid issues, have limited exploration investment.
4. Indonesia
Indonesia ranks fourth with 3,600 metric tons of gold reserves, a notable increase from 2,600 metric tons reported for 2023. The country hosts the Grasberg complex, one of the world’s largest gold operations, containing 23.9 million recoverable gold ounces. Operated by Freeport-McMoRan, Grasberg includes several underground mines and the developing Kucing Liar deposit, which is projected to add 520,000 ounces of gold annually, contributing to 6 million total ounces between 2029 and 2041.
5. Canada
Canada holds 3,200 metric tons of gold reserves, a substantial increase from approximately 2,300 metric tons since 2012. Its gold output has doubled over the same period, rising from 97 metric tons in 2012 to 200 metric tons in 2025. Gold mining in Canada dates back to the early 1800s in Québec, with current production concentrated in Ontario (40%) and Québec (28%). Agnico Eagle Mines’ Canadian Malartic Complex in Québec is a major contributor, producing 642,612 ounces in 2025 and holding 1.4 million ounces in proven and probable reserves. Canada is also a leader in sustainable mining initiatives, with its Mining Association of Canada’s Toward Sustainable Mining initiative adopted globally.
5. China
Tied with Canada, China also possesses 3,200 metric tons of gold reserves. Its economic reserves have seen a significant increase, jumping from 1,900 metric tons in 2022 to 3,000 metric tons in 2023. China has been the leading global gold producer since 2007, with its Shandong province home to major deposits and mines like Jiaojia and Sanshandao. State-backed companies such as Zijin Mining Group, whose Shanxi gold mine produced 177,250 ounces in 2025, and China Gold International Resources, operating the Chang Shan Hao mine (96,816 ounces last year), play key roles. The People’s Bank of China also significantly impacts the gold market through substantial purchases, holding an estimated 2,306.3 metric tons of gold at the end of 2025.
7. United States
The United States’ gold reserves have remained constant at 3,000 metric tons since 2012. The country benefits from well-developed infrastructure, experienced companies, and an advanced workforce. However, US gold production and refinement have seen a slow decline over the last decade, falling from 230 metric tons in 2012 to 160 metric tons in 2025. The largest gold-mining assets in the US are Turquoise Ridge,…
The landscape of global gold reserves is constantly evolving, influenced by new discoveries, technological advancements, and shifting economic priorities. For investors and industry stakeholders, a precise understanding of these national reserves, coupled with production trends and geopolitical factors, remains essential for navigating the complexities of the gold market and making informed decisions about future supply and investment strategies.
