International Monetary Fund (IMF) Ranks Third in Gold Ownership
Who Owns Most of the World's Gold?
4% of the World Controls 12.6% of the Gold- United States
- Germany
- IMF
- Italy
- France
- SPDR Gold Shares ETF (held by the Custodian, HSBC Bank, in their London vault)
- China
- Switzerland
- Japan
- Netherlands
Tonnes Owned: 3,217.3
July 2, 2009
Wealth Daily - The International Monetary Fund oversees the global financial system by following the macroeconomic policies of its member countries 185 member countries. It is an organization formed to stabilize international exchange rates and facilitate development and offers highly leveraged loans mainly to poorer countries.
The IMF's gold policies have changed in the last quarter century, but the reserves remain in place for use in stabilizing international markets and aiding national economies. The IMF's official policy on gold as it is stated on the organization's website is governed by the following principles:
- As an undervalued asset held by the IMF, gold provides fundamental strength to its balance sheet. Any mobilization of IMF gold should avoid weakening its overall financial position.
- The IMF should continue to hold a relatively large amount of gold among its assets, not only for prudential reasons, but also to meet unforeseen contingencies.
- The IMF has a systemic responsibility to avoid causing disruptions to the functioning of the gold market.
- Profits from any gold sales should be used whenever feasible to create an investment fund, of which only the income should be used.
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