Beijing. China has become the country with the fifth largest gold reserve in the world. China has achieved this position by leaving Russia behind, and now only America, Germany, Italy and France are ahead of it. According to data from the financial platform ‘The Kobe Letter’, China currently has total gold reserves of 2,410 tonnes and is very short of joining the top-3 countries globally. As per the current situation, France has 2,437 tonnes of gold and Italy has 2,452 tonnes of gold. Thus, China is only 27 tonnes behind France and 42 tonnes behind Italy. The People’s Bank of China (China’s central bank) is continuously purchasing gold on a large scale. If this purchase of gold continues at this pace, then by the end of this year China will become the country with the third largest gold reserves in the world, leaving behind both France and Italy.
