Indonesia Ranks 4th Globally in Gold Reserves in 2024

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Erlina F. Santika 28/02/2025 19:00 WIB

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Estimated Gold Reserve Volumes of the Top 10 Countries (2024)

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Estimated Gold Reserve Volumes of the Top 10 Countries (2024)

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A United States Geological Survey (USGS) report indicates that global gold reserves are estimated to reach 64,000 metric tons in 2024.

Australia and Russia hold the largest reserves, with an equal volume of 12,000 metric tons last year.

South Africa is in third place with 5,000 metric tons.

Indonesia ranks fourth with reserves reaching 3,600 tons. In addition to having the largest reserves, Indonesia's gold production is also substantial, reaching 100 metric tons in 2024—making it the tenth largest producer.

Below Indonesia is Canada with reserves of 3,200 metric tons. Other countries include China, the United States, and Kazakhstan.

The top 10 countries with the largest gold reserves in 2024 are:

* Australia: 12,000 metric tons
* Russia: 12,000 metric tons
* South Africa: 5,000 metric tons
* Indonesia: 3,600 metric tons
* Canada: 3,200 metric tons
* China: 3,100 metric tons
* United States: 3,000 metric tons
* Peru: 2,500 metric tons
* Brazil: 2,400 metric tons
* Kazakhstan: 2,300 metric tons.

In addition, the USGS estimates that global gold consumption, excluding exchange-traded funds and similar investments, is distributed as follows: jewelry 45%; central banks and other institutions 21%; physical bars 19%; official and imitation coins and medals 7%; electrical and electronic applications 6%; and other 1%.

The USGS also notes that in the first nine months of 2024, global gold consumption increased by 12% for physical bars, 12% for electronics; remained unchanged for other industrial applications; decreased by 5% for dentistry; decreased by 7% for jewelry; and decreased by 25% for coins and medals compared to the first nine months of 2023.

Meanwhile, gold holdings in central banks decreased by 17%, and global investment in gold-based exchange-traded funds and similar investments decreased by 87%.

"Total global consumption in the first nine months of 2024 decreased by 3% compared to the first nine months of 2023," the USGS wrote in its *Mineral Commodity Summaries 2025* report, quoted on Tuesday (February 4, 2024).

Editor : Erlina F. Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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