Economist: Central Bank gold reserve in London. And this is the relationship of its price to the dollar

• Time: 2023/10/24 13:43:25
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{Economic: Al-Furat News} An economist stressed the difficulty of predicting gold prices, specifying “the relationship in the prices of gold and the dollar.”

Salah Nouri told {Euphrates News}, “It is known to economists that the dollar currency and gold represent a reserve for central banks, including the Central Bank of Iraq, which pursues this diversity, and in practice the relationship between the dollar and gold is an inverse relationship, as there are signs of the decline of the dollar in the financial markets, the trend to invest in gold as a safe haven, and thus the demand for gold increases globally and its price rises.”

He pointed out that “the Central Bank of Iraq has a good amount of gold and is preserved in London, where the World Gold Council, and the Central Bank of Iraq depends in determining the value of gold on its price on the London Stock Exchange.”

“It is difficult to predict the price of gold to rise or fall because it is linked to the price of the dollar and the latter is linked to unstable economic and political events in the world,” Nouri pointed out.

Who.. Raghd Daham

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