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Iraq and 4 Arab countries possess more than one million tons of global gold reserves
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Economy News - Baghdad
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Added 12/07/2023 - 3:05 PM
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Gold bullion in Munich. "Reuters"
Gold bullion in Munich. "Reuters"
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Economy News - Baghdad
The World Gold Council announced on Thursday that Iraq and four Arab countries possess more than one million tons of global gold reserves.
The Council said in its latest schedule for the month of December 2023, viewed by Shafaq News Agency, that “Iraq, Algeria, Egypt, Lebanon, and Saudi Arabia have reached one million, 28,040 tons of precious metal.”
He added, "Iraq maintained its ranking of 30th globally out of the 100 countries listed in the table with the largest gold reserves, as it has not purchased gold since the month of May, bringing its gold possessions to 132.7 tons, which represents 7.7% of the rest of its other reserves."
He pointed out that “the United States of America sits on the throne of the rest of the countries with the largest possession of gold in the world at 8,133.5 thousand tons, followed by Germany with 3,352.6 thousand tons, then Italy came with 2,451.8 thousand tons, while Suriname ranked 99th with 1.5 thousand tons.” tons, followed by Papua Guinea with the same amount at 1.5 thousand tons.”
The Council stated, “Iraq announced on June 27, 2022, the purchase of new quantities of gold amounting to approximately (34) tons, an increase of 35% over what was in its possession, while in the month of May it announced the purchase of 2.3 tons of gold.”
It is noteworthy that the World Gold Council is based in the United Kingdom and has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most advanced gold mining companies in the world.
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Added 12/07/2023 - 3:05 PM
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