Iraq achieves a major global leap in gold reserves

  • Time: 08/07/2022 09:35:49
  • Reading: 1,495 times
Iraq achieves a major global leap in gold reserves

  {Economic: Al Furat News} Iraq rose 10 ranks among the countries with the most gold in the world, according to the latest report of the World Gold Council, issued today, Sunday.

In its latest schedule for the month of August, the council said, “According to Iraq’s large purchases of 34 tons, the latter rose ten ranks to rank 30 out of the 100 countries listed in the table with the largest gold reserves, reaching 130.4 tons of gold, which represents 11.5% of His other precautions.

He explained that “Iraq has become the fourth largest Arab gold reserve after it was the sixth, surpassing Egypt and Libya, which ranked fifth and sixth, respectively.”

He pointed out that “international central banks added 111.19 net tons to global gold reserves,” noting that “the bulk of the rise resulted from purchases from Iraq (33.97 tons), while Turkey continued to buy by (26.60) tons, and Uzbekistan bought (26.44). tons, Kazakhstan (15.79) tons, and India (8.39) tons.

He added that “Germany was the biggest seller this month, as it sold 3.36 tons of gold, followed by Mongolia (0.80) tons, followed by the UAE (0.27) tons.

Globally, the United States of America still leads the rest of the countries with the largest gold possession in the world, at 8,133 tons, followed by Germany, 3.355 tons, then Italy, 2,451 tons, while Laos ranked 100, with 0.9 tons, preceded by the Republic of Cape Verde with one ton.

On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.

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