According to an official World gold council data, Switzerland was pushed to seventh place by SPDR Gold Trust GLD as far as largest holders of physical gold is concerned.

The WGC said, the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust GLD held 1,041.53 tones of bullion as of March 12 as against Switzerland’s 1,040.1 tones.

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Switzerland ranked as the world's sixth-biggest official gold holder after the United States, Germany, International Monetary Fund, France and Italy.

Japan, the Netherlands and China held the next three spots in this regard.