Question: Which rank has India hold in gold reserve by the World Gold Council?
(a) 10th
(b) 11th
(c) 12th
(d) 13th
Answer :(b)
Related facts:
- India, the world’s largest consumer of gold, has the 11th largest gold reserve, with the current holding pegged at 607 tonnes.
- International Monetary Fund (IMF) is third on the list with total gold reserves of 2,814 tonnes.
- Top slot is occupied by the U.S., which boasts of gold reserves of 8,133.5 tonnes, followed by Germany with 3,369.7 tonnes.
- Among Asian countries, China and Japan have more reserves of the precious metal when compared to India.
- Pakistan, with its gold reserves of 64.6 tonnes, occupies the 45th position.
About World Gold Council:
- The World Gold Council is the market development organisation for the gold industry.
- The World Gold Council is an association whose members comprise the world’s leading gold mining companies.
- Headquartered in the UK, they have offices in India, China, Singapore, Japan and the United States.
- It helps to support its members to mine in a responsible way and developed the Conflict Free Gold Standard.
- It works across all parts of the industry, from gold mining to investment, and their aim is to stimulate and sustain demand for gold.
By Achyutanand Pandey
Links:
https://www.thehindu.com/business/india-ranks-11th-in-gold-holding/article26501875.ece
https://en.wikipedia.org/wiki/World_Gold_Council