According to the World Gold Council (WGC), Vietnam is not among the 20 largest gold hoarding countries in the world. The No. 1 country holding gold in the world is the United States, with total reserves of nearly 9,000 tons of gold.

Germany ranked second when holding nearly 4,000 tons of gold, ranking third was Italy with nearly 2,500 tons.

Although Russia and China are considered to be the two biggest buyers of gold in the world, they are ranked fifth and sixth, respectively, with more than 2,000 tons and nearly 1,900 tons, respectively.

Holding the bottom position of the group of 20 countries, Spain also hoarded nearly 500 tons of gold.

According to the WGC, before the global economy fell into the COVID-19 pandemic, central banks around the world continuously replenished gold reserves. Particularly in 2019, countries bought 650 tons of gold, 656 tons of gold in 2018. 

Interestingly enough, before the financial crisis of 2007-2009, central banks were net sellers of gold over the decades. At its peak in 2006, central banks net sold more than 600 tons of gold. At this stage, the world gold price also dropped sharply. 

But starting to enter a period of global financial crisis, banks began to buy back hoarding, no longer selling as before. 

The year 2011 was the time when central banks bought the highest net amount of more than 600 tons of gold. The price of gold has risen sharply at this time, up to 1,900 USD / ounce.