BANGALORE: The value of Gold started increasing in the year 2001, since then people have started importing gold more from other countries. Such is the unique feature of gold that many countries have hundreds and thousands of official gold reserves.

According to a recent report published by World Gold Council, the Gold demand in Q2 2014 was 964 tonnes, lower compared with Q2 2013 but in line with its 10-year average. It is estimated that global official gold holdings to 31,812.0 tonnes as of August 2014. Here is the list of 10 countries with the largest gold reserves as compiled by the Business Insider.

(#) India

India is ranked second in world’s population but its gold reserves are very low as compared to other countries. It has official gold holdings of 557.7 tonnes and it accounts for just 7.3 percent of foreign reserves in gold. It is surprisingly shocking that India imports a large amount of gold than other countries.

This is probably why Indian government is discouraging people from buying gold as it is laying a terrible impact on Indian economy.

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