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Iraq strengthens its reserves of gold and revealed its quantity
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BAGHDAD - Iraq's reserves of gold reached 96.3 tons at the end of the third quarter of 2018, according to data released by the World Gold Council on Tuesday, which allowed it to progress on Arab economies rich in precious metal reserves.
The geopolitical and trade tensions along with Washington's sanctions policy have shaken confidence in the US dollar in recent years, prompting a number of global central banks to increase their purchases of gold.
The World Gold Council's latest report showed that central banks around the world bought around 651.5 tonnes of gold in 2018, noting that Russia and Turkey had raised their reserves at the expense of the dollar.
Countries such as Iraq, India, China and Kazakhstan were among the top gold buyers in 2018. According to the data, Iraq increased its reserves last year by 6.45 tons, bringing its total gold to 96.3 tons .
[You must be registered and logged in to see this link.]
BAGHDAD - Iraq's reserves of gold reached 96.3 tons at the end of the third quarter of 2018, according to data released by the World Gold Council on Tuesday, which allowed it to progress on Arab economies rich in precious metal reserves.
The geopolitical and trade tensions along with Washington's sanctions policy have shaken confidence in the US dollar in recent years, prompting a number of global central banks to increase their purchases of gold.
The World Gold Council's latest report showed that central banks around the world bought around 651.5 tonnes of gold in 2018, noting that Russia and Turkey had raised their reserves at the expense of the dollar.
Countries such as Iraq, India, China and Kazakhstan were among the top gold buyers in 2018. According to the data, Iraq increased its reserves last year by 6.45 tons, bringing its total gold to 96.3 tons .
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