When it comes to gold reserves, Latin America is far from the world's top, which includes nations such as the United States and Germany with 8,133 and 3,352 tons, respectively.
Countries maintain gold reserves as a tangible backing for their national currency, which strengthens confidence in economic stability, especially during times of financial uncertainty. In addition, this metal allows for diversification of a country's assets, reducing dependence on other currencies or financial instruments and helping to mitigate the risks of fluctuations in international markets. It is also considered a safe haven against inflation and currency devaluation, thus protecting purchasing power and economic stability.
Latin American nations have low gold reserves when compared to some of the world's most economically important countries. As of December 2024, Brazil had 130 tons of the metal and ranked second among countries with the largest reserves in Latin America. Peru, for its part, ranks sixth in the region with 34.67 tons.
Which Latin American country has the largest gold reserves?
In 2024, Venezuela ranked as the Latin American nation with the largest amount of gold stored, reaching a total of 161 tons held by the Central Bank of Venezuela (BCV), according to information provided by Trading Economics (TE).
These gold reserves play a crucial role in Venezuela's economy, serving as a safeguard against the instability of its currency and the constant financial difficulties facing the country. A significant portion of these resources comes from the Orinoco Mining Arc, a vast territory with great mineral wealth that spans more than 111,000 km². Areas such as El Callao and the vicinity of the Cuyuní River are renowned for the excellent quality of the gold that is mined there, giving Venezuela a privileged position in the region.