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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Government advisor reveals Iraq's gold reserves have risen to 150 tons... and the reason for its hig

    Rocky
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    advisor - Government advisor reveals Iraq's gold reserves have risen to 150 tons... and the reason for its hig Empty Government advisor reveals Iraq's gold reserves have risen to 150 tons... and the reason for its hig

    Post by Rocky Fri 19 Jul 2024, 5:20 am

    Government advisor reveals Iraq's gold reserves have risen to 150 tons... and the reason for its high price
    • Time: 2024/07/18 21:37:55
       
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    {Economic: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Thursday, that Iraq’s gold reserves have risen to 150 tons, while noting the reason for its high price.
    Useful summary.. In important news you can find it on Al Furat News channel on Telegram.. [You must be registered and logged in to see this link.]
    Saleh told {Euphrates News} that: "Gold is one of the most important safe investment havens in the world, which is resorted to by the investment portfolios of central banks and various investors through international financial markets, including the Central Bank of Iraq, which currently holds less than 150 tons of cash gold within Iraq's international reserves, relying on a standard rule for optimal diversification of the investment portfolio of Iraq's international reserves."
    He added, "It is a rule adopted globally by multilateral international financial organizations such as the International Monetary Fund, the World Bank and others, within the principle of ensuring the liquidity of investment portfolios and protecting them from various financial and economic risks and various fluctuations affecting the value of financial assets, by resorting to safe and optimal diversification of investment portfolios."
    Saleh pointed out that "there is an inverse correlation between gold and oil on the one hand and the value of the dollar on the other hand. Whenever the value of the US currency declines or investment returns in the US currency decline, such as the returns on dollar-denominated bonds or interest on dollar deposits, investors go towards the safe haven, which is gold, which is stable in value and guaranteed purchasing power." 
    "Gold is a rare asset whose (asset cycle) is long and stable, mostly without serious fluctuations, which encourages this stability by investing in the market value of gold and within the standard limits required by investment portfolios in terms of growth and stability in the value of its components in a balanced manner without incurring {unrealized} losses, as they are called in accounting,"
    Saleh continued, "noting that countries can issue gold-backed bonds (gold bonds) in order to borrow from the financial market, as the gold guarantee is one of the basic attractive and desirable guarantees in global financial markets." He continued
    by saying, "We cannot fail to mention that 17% of the world's gold is currently stored in the vaults of central banks in countries, and that 77% of the world's gold wealth has been extracted," noting that "50% of that wealth has been manufactured for various purposes, such as woven goods, industrial or craft materials, and other jewelry."
    Saleh concluded by saying, “The value of gold in the world is currently estimated at about 15 trillion dollars, which represents a percentage of the annual global gross product of about 14% only, while the quantities of gold discovered from the depths of the earth {currently in circulation and stored} are estimated at about 187 thousand tons distributed in various parts of the world.”
    Raghad
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