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Economy News _ Baghdad
The World Gold Council announced, on Sunday, that the central banks’ possession of gold increased, while Iraq maintained its world ranking at 38th.
The council said in its latest schedule for February 2021, which was seen by “Al-Eqtisad News”, that “the possession of gold by central banks of countries increased by 6 tons to reach 35.197 thousand tons compared to the previous month.”
He added that the main buyers of gold during this month are Turkey, India, Kazakhstan and Uzbekistan, while the main sellers of gold are Mongolia and Malta.
The council noted that “Iraq still maintains the 38th position in the world and the fifth in the Arab world with the largest gold reserves at 96.3 tons, which represents 10.1% of the rest of the other reserves.”
It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change and its members consist of the largest and most advanced gold mining companies in the world.
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[…] Precious metals have been a safe haven all throughout human history, and that is especially true during highly inflationary times.If we continue destroying the U.S. dollar at our current pace, toilet paper will eventually be more valuable than U.S. dollars.Gold Could Offer a Way out of Switzerland Failing Inflationist Experiment.Switzerland could break with the globally pervasive regulations which suppress the potential of gold to develop fully as a nonstate money. Swiss banks, already expert at servicing gold deposit accounts for their clients, would get permission to establish a clearinghouse in Zurich for settling transactions between themselves in the yellow metal (in, say, kilogram gold bars deliverable in Switzerland), thereby facilitating direct payments in gold by their clients for goods or assets without having to pass through the US dollar.The World Gold Council announced, on Sunday, that the central banks possession of gold increased.It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change and its members consist of the largest and most advanced gold mining companies in the world.Sources: search4dinar.wordpress.com, mises.org […]
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