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Who Owns Most of the World’s Gold?

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Tonnes: 2,451.8
Percent of foreign reserves: 68 percent

Italy has likewise maintained the size of its reserves over the years, and it has support from European Central Bank (ECB) President Mario Draghi. The former Bank of Italy governor, when asked by a reporter in 2013 what role gold plays in a central banks portfolio, answered that the metal was “a reserve of safety,” adding, it gives you a fairly good protection against fluctuations against the dollar.

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