Considered a safe investment, the demand for Gold has increased as it becomes the go-to commodity to acquire in current times of coronavirus lead economic uncertainty, pulling investors and countries towards it.

Naturally, gold prices are now at all-time highs due to a shift in investor preferences. The World Gold Council has released a list of the countries in the world that have the largest gold reserves.

According to the IMF and World Gold Council, the United States has the largest gold reserves at 8133.5 tons in August 2020, accounting for 79pc of its total reserves. Germany is second place with 3363.6 tons (75.6pc of reserves), Italy has 2451.8 tons (71.3pc of reserves), France has 2436 tons (65.5pc of reserves), Russia has 2299.9 tons (23.0pc of reserves) and China has 1948.3 tons or 3.4pc of the reserves.

Banking haven Switzerland has 1040 tons of gold or 6.5pc of reserves, Japan has 765.2 tons or 3.2pc of reserves. Furthermore, neighboring India has 657.7 tons i.e. 7.5pc of reserves

And finally, as per the data released by the World Gold Council, Pakistan ranks 44th in the list and currently has 64.6 tons of gold reserves, which account for 20.7pc of its total reserves.