In terms of gold reserves, Latin America is far from the world top, which includes nations such as the United States and Germany with 8133 and 3352 tons, respectively.
Countries maintain gold reserves as a tangible backing for the national currency, which strengthens confidence in economic stability, especially during times of financial uncertainty. In addition, this metal allows diversification of the country's assets, which reduces dependence on other currencies or financial instruments and helps 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 most economically relevant countries in the world. As of December 2024, Brazil had 130 tons of the metal and was positioned in the second place of countries with the largest reserves in Latam. Peru, on the other hand, is the sixth in the region with 34.67 tons.
Which Latin American country has the largest gold reserve?
In 2024, Venezuela positioned itself as the Latin American nation with the largest amount of gold in storage, reaching a total of 161 tons under the custody of 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, acting as a safeguard against the instability of its currency and the constant financial difficulties faced by the country. A significant portion of these resources comes from the Arco Minero del Orinoco, an extensive territory with great mineral wealth that extends over 111 thousand km². Areas such as El Callao and the vicinity of the Cuyuní River are recognized for the excellent quality of the gold extracted, which gives Venezuela a privileged position in the regional sphere.
However, despite this wealth, Venezuelan gold reserves have experienced a decline in recent years, influenced by economic and political factors. In 2011, the country had approximately 372.93 tons of gold. By 2018, this figure was reduced to 150.22 tons.
Gold reserves: This is the ranking for Latin America
Below, we share with you the top 10 Latin American countries with the largest gold reserves:
Venezuela: 161 tons
Brazil: 130 tons
Mexico: 120 tons
Argentina: 61.74 tons
Bolivia: 34.79 tons
Peru: 34.67 tons
Ecuador: 26.28 tons
Paraguay: 8.19 tons
Guatemala: 6.89 tons
Colombia: 4.68 tons
What is gold used for?
Jewelry and decorative objects: Thanks to its characteristic luster, malleability and resistance to corrosion, gold is widely used in the manufacture of rings, necklaces, bracelets and other ornaments. Its ability to be molded into various shapes and alloyed with other metals allows the creation of pieces of different shades and durability.
Investment and store of value: Historically, gold has been considered a safe haven in times of economic uncertainty. Investors purchase bullion, coins and gold-backed certificates as a way to preserve their wealth. In addition, central banks hold gold reserves to support the financial stability of their respective economies.
Electronics industry: Gold's excellent electrical conductivity and resistance to oxidation make it indispensable in the manufacture of electronic components. It is used in contacts, connectors and integrated circuits in devices such as cell phones, computers and telecommunications equipment, ensuring efficient and long-lasting signal transmission.
Medicine and dentistry: In the medical field, gold is used in treatments for certain conditions, such as rheumatoid arthritis, through compounds that help reduce inflammation. In dentistry, due to its biocompatibility and resistance to wear, it is used in the manufacture of crowns, bridges and dental fillings.
Aerospace industry: Gold plays a crucial role in space exploration. It is used to coat satellite and spacecraft components, protecting them from solar radiation and helping to regulate internal temperature. In addition, its conductivity ensures the proper functioning of electronic systems in extreme conditions.
Gastronomic and cosmetic applications: Although less common, gold is used in haute cuisine as an edible decoration in dishes and drinks, adding a touch of luxury. In cosmetics, it is incorporated in creams and facial treatments due to its supposed rejuvenating and antioxidant properties.
Glassware and ornamentation: Gold is used in the manufacture of specialty glass, such as reddish-tinted glass, by dispersing gold particles in the material. It is also used in the gilding technique to coat the surfaces of frames, domes and other architectural elements, providing a luxurious appearance and protection against corrosion.
How much is a gram of gold worth?
The price of gold in Peru is as follows:
24 carat gold: approximately S/. 348.76 Peruvian per gram.
22 carat gold: about S/. 319.47 Peruvian per gram.
18 carat gold: approximately S/. 261.57 Peruvian per gram.
These values may vary according to market fluctuations and the current exchange rate.
How do you know if a gold piece is genuine?
To verify if a piece of jewelry is genuine gold, the first thing you can do is look for some sort of marking that certifies its authenticity. In many places, quality gold carries a marking that indicates its purity level, such as '18K' or '750′, which correspond to 18 karat gold. These markings are usually in inconspicuous areas, such as on the inside of a ring or on the clasp of a bracelet.
Another option is to test a ceramic stone. By rubbing the gold on it, if the mark left is dark, it indicates that it is real gold. If, on the other hand, the mark has a golden hue, the jewelry is probably not authentic. You can also use nitric acid, which is available in jewelry stores. If the material is gold, just put a drop on the jewelry and it will not be altered. In case it is a fake, the surface will show damage.
A quick test to see if a piece of jewelry is gold is to use a magnet. Gold is not magnetic, so if the jewelry is attracted to it, it is probably not made of gold. However, this test is not always definitive, as some gold pieces may contain other metals that are not magnetic.
If you have access to a precision balance, you can measure the weight of the jewel and then dip it in water to calculate its volume. By comparing this data with the known values of real gold, you can get a clearer idea of its authenticity.
If you are still unsure of the validity of the jewelry, it is best to consult an expert who has the necessary tools to make an accurate assessment.
Alejandro Delgado Tong, Infobae