This country has fourth largest gold reserves in the world, but does not have a single gold mine, it is..., not UAE, Iran, US, South Africa

As gold prices continue to climb, with central banks globally increasing their gold reserves, France stands out. Despite holding 2,437 tonnes of gold, the fourth-largest reserve globally after the United States, Germany, and Italy, France has no gold mines. This raises the question of how France amassed such a significant gold reserve, given its lack of domestic gold production.

During the colonial period, France exerted control over numerous African nations, including Algeria, Tunisia, Morocco, Senegal, Mali, Burkina Faso, Benin, Guinea, Ivory Coast, and Niger. The French colonial administration exploited these countries, extracting substantial amounts of gold and other resources.

After independence, many of these nations have sustained economic ties with France, largely due to an agreement obligating their central banks to maintain a portion of their reserves within France.

Top 10 countries 

China led global gold production in 2023, producing 378.2 tonnes, followed by Russia with 321.8 tonnes. Australia's gold production reached 293.8 tonnes, while Canada produced 191.9 tonnes. The United States produced 166.7 tonnes, Ghana 135.1 tonnes, Indonesia 132.5 tonnes, Peru 128.8 tonnes, Mexico 12.6 tonnes, and Uzbekistan produced 119.6 tonnes.