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10. Japan

Value of reserves: $39.36 billion
Holdings total: 843.5 tons

Although Japan is ninth on the list, its 843.5 tons of gold account for only 3.5 percent of total foreign reserves. On the open market, Japan's gold reserves would be worth around $39.36 billion, and are overseen by the Bank of Japan.

Source: World Gold Council, with conversions by CNBC | Photo: AP