The world’s possession of gold has increased, and Iraq has not increased its reserves since September 2020Arabic and international
Economy News _ Baghdad
On Sunday, the World Gold Council announced a rise in world gold reserves, noting that Iraq had not increased its gold reserves since September 2020.
The council said in its latest schedule in June of 2021, which was reviewed by Al-Eqtisadiah News; Iraq has increased its reserves of the yellow metal to 35,394 thousand tons, an increase of 69.4 tons over the previous month.
He added, “The increase in gold reserves came from five central banks, as Thailand made the largest purchase of gold during the month, adding 43.5 tons, and bought Turkey (13.4 tons), Uzbekistan (8.4 tons), Kazakhstan (4.6 tons) and Kyrgyzstan (3.8 tons), indicating The only sellers are Russia and Germany, where the Russian gold reserves decreased by 3.1 tons and the sale of it was related to the mint, and the German gold reserves decreased by 1.3 tons, which is also related to the mint.”
He pointed out that “Iraq maintained its 38th rank globally out of the 100 countries listed in the table with the largest gold reserves in the world, and ranked fifth in the Arab world after Saudi Arabia, Lebanon, Algeria and Libya,” noting that “it has not bought gold since September of 2020, when it bought an amount As few as 0.1 tons, while he bought 6.5 tons in September 2018.
He added, “The United States of America still ranks first in the world’s largest gold reserves with 8,133 thousand tons, followed by Germany with 3,361 thousand tons, while the list was followed by Suriname with 1.5 tons, preceded by Yemen by 1.6 tons.”
It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.