GDP per capita linked to gold reserves
Comparing GDP per capita with Total reserves (gold at market value) (SDR), per capita across 169 countries, 2022–2025.
- Rank correlation
- +0.85
- Holding size constant
- +0.78
- Countries compared
- 169
- Period
- 2022–2025
What might link these
The relationship between GDP per capita and total reserves in gold per capita might be driven by a country's overall economic stability and investment capabilities. A careful reader should be cautious about potential confounders, such as a country's political stability, which could influence both indicators. The correlation persists even after controlling for population and GDP, suggesting a more complex relationship.
Why this is not proof of anything
This is a correlation across countries, not an experiment. It cannot show that either indicator causes the other, and both may simply follow a third thing. This correlation could mislead by implying a direct causal link between individual wealth and national gold reserves, when in fact other factors like economic policy and global market trends may play a significant role.
The second figure above repeats the measurement with national population and income held constant. It is the more conservative number: a relationship that largely disappears there was mostly telling you that larger, richer countries have more of most things.
How this was measured
Both indicators were ranked across every country reporting each, and the two rankings compared — ranks rather than raw values, because a handful of very large countries can otherwise manufacture a relationship on their own. The calculation is arithmetic over figures already published on this site; the commentary above is drafted from the two indicator names and the resulting coefficients.