Gold is stored all around the world by individuals and banks alike. The world’s biggest store of gold is Fort Knox in the USA. There is estimated to be over 6,000 tonnes of gold held there at a value of over $200 billion.
London is also a centre of gold storage with a number of vaults in the financial district of the City looking after the gold held by financial institutions. The biggest gold storer is the Bank of England which has over 5,000 tonnes of gold in its vaults. However, only 310.3 tonnes of this belongs to the UK national reserves. The rest belongs to other financial institutions using the Bank’s vaults. Recently, a number of countries have begun repatriating their gold, i.e. bringing it back from storage abroad.