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Storage in Britain and France.. A plan for the Central Bank of Iraq to buy "tons of gold"
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Baghdad Today - Translation
Mining magazine, concerned with natural resource affairs, revealed today, Monday, that Iraq's strategic reserves of gold increased by 2% after sporadic purchases, which it said "comes as part of the Central Bank's strategy to obtain" tons of gold "as a reserve source of funds."
And the magazine stated, according to what was translated (Baghdad Today), that “Iraq raised its gold reserves by 2% within one day only after purchasing 2.5 tons of gold last Tuesday,” stressing that “the central bank’s strategy will include the purchase of” tons of gold “sporadically.” during the remaining half of this year.
The magazine also said that "Iraq, which now owns 132 tons of the precious metal, stores those quantities in the" French and British Bank ", stressing that it is "not inside Iraq," stressing the current importance of gold in the economy due to the deterioration of the US economy and the Washington government's raising interest rates. on the dollar continuously.
The magazine also indicated that the current central bank strategy to buy quantities of gold intermittently comes in conjunction with a continuous rise in gold prices that may lead to costing Iraq additional money due to investors’ interest in buying the precious metal in an attempt to avoid the negative effects of raising interest on the price of the dollar, according to its description.
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