Gold Price US$1,400/Troy Ounce: These Are the Central Banks with the Largest Gold Reserves

International spot market gold prices closed down 1.12% at US$ 1,413.78/troy ounce on Wednesday (31/7/2019), compared to the previous day's closing price. This decrease is a result of the US Federal Reserve (The Fed) cutting its benchmark interest rate. Meanwhile, in the Asian spot market, the gold price today stands at US$ 1,410/troy ounce or approximately Rp 644,558/gram.

The rise in gold prices has boosted the gold reserves of central banks worldwide. The central bank that has benefited most from the increase in gold prices is The Fed. According to data from the World Gold Council, the US central bank holds gold reserves weighing 8,133.5 tonnes, or approximately 261.5 million troy ounces, valued at US$ 374.46 billion (Rp 5,242.5 trillion).

The German central bank has the second-largest gold reserves, reaching 3,366.8 tonnes or approximately Rp 2,170.1 trillion. Bank Indonesia's gold reserves in monetary gold amount to 78.5 tonnes, or approximately 2.53 million troy ounces, valued at Rp 50.6 trillion.

(Read Databoks: [Securities in BI's Foreign Exchange Reserves Shrink by US$ 14 Billion](https://databoks.katadata.co.id/datapublish/2018/07/31/surat-berharga-di-cadangan-devisa-bi-menyusut-us-14-miliar))