When ranking gold reserves by country, the United States leads all nations — holding 8,133.5 tonnes stored primarily at Fort Knox and the Federal Reserve Bank of New York. However, that stockpile has barely moved since the early 2000s. So the real story in 2026 is not who has the most. It’s who is buying — and why. In Q1 2026, central banks purchased a net 244 tonnes, exceeding both the prior quarter and the five-year average. [World Gold Council Gold Demand Trends Q1 2026, published April 29, 2026] Notably, that’s not speculative activity. Instead, it reflects deliberate, strategic accumulation — and it tells you ... (full story)