The album, first released in 1992, is the fourth biggest-selling album of all time in Britain and is in the top 40 of all time worldwide, having sold more than 26 million copies across the globe, the Official UK Charts Company said.
The revival of interest in the 1970s pop act, which split in 1982, is due to the release of "Mamma Mia!", the film adaptation of a long-running musical based on ABBA's hits.
The film soundtrack topped the British album charts last month.
"Gold -- Greatest Hits" traded places with Coldplay's "Viva La Vida or Death and All His Friends", taking the number one spot.
Welsh singer Duffy's "Rockferry" album was third in the charts, followed by American artist Kid Rock's "Rock n Roll Jesus", which rocketed up from 145th place.
In the singles charts, Rock took the top spot, ending British rapper Dizzee Rascal's four-week reign.
"All Summer Long" traded places with Rascal's "Dance Wiv Me", ahead of Irish indie band The Script's "The Man Who Can't Be Moved", which was up from 30th place.
American singer Katy Perry's "I Kissed a Girl" shot up 135 spots to fourth.