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Iraq strengthens its gold reserves to reach more than 31 tons

wciappetta
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Iraq strengthens its gold reserves to reach more than 31 tons  Empty Iraq strengthens its gold reserves to reach more than 31 tons

Post by wciappetta on Fri 21 Dec 2012, 7:51 am

Iraq strengthens its gold reserves to reach more than 31 tons

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21-12-2012 | (Voice of Iraq) - [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] -

Alsumaria News / Baghdad
The International Monetary Fund announced Friday that Iraq boosted its
gold reserves to reach more than 31 tons, pointing out that he bought
23.9 tonnes of gold during the month of August.



The report said the monthly statistics of the International Monetary
and got "Alsumaria News", a copy of "The Iraq tally of gold during
August and September, falling slightly during last October to $ 31.07
tonnes,
" noting that "Iraq's reserves of gold were some 5.8 tons before
last August. "


The fund added that "Iraq bought last August 23.9 tonnes of gold to
reach its reserves to 29.7, while increased these reserves to 32.09
tonnes after buying 2.3 tons of gold in the month of September," adding
that "these reserves fell by 1.02 to $ 31.07 tonnes last October. "


And some states have tended to buy gold, especially with higher prices
in the global markets, as well as the instability of the value of the
dollar because of the fluctuation of its value in recent times.


The Central Bank of Iraq announced, in August 2012, Iraq's reserves
rise of hard currency to $ 67 billion, up from $ 63 billion the end of
last May, as he emphasized that these reserves are the largest in the
history of Iraq.


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Iraq strengthens its gold reserves to reach more than 31 tons  Empty Re: Iraq strengthens its gold reserves to reach more than 31 tons

Post by chouchou on Fri 21 Dec 2012, 8:28 am

Show me the money!
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Iraq strengthens its gold reserves to reach more than 31 tons  Empty Re: Iraq strengthens its gold reserves to reach more than 31 tons

Post by notazbad2000 on Fri 21 Dec 2012, 9:48 am

Smart move by Iraq. They can see that while oil is in high demand, there are a few countries in the region with deminishing oil productions. Gold will once again become the standard.



TAZ


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Iraq strengthens its gold reserves to reach more than 31 tons  Empty Re: Iraq strengthens its gold reserves to reach more than 31 tons

Post by Hkp1 on Fri 21 Dec 2012, 2:58 pm

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International report: Baghdad promote gold reserves








Baghdad/follow-up to the extent


Iraq
has taken the first major step in years to strengthen its reserves of
gold in the past few months to join other central banks from emerging
market economies such as Brazil and Russia to diversify foreign
reserves.


Central Bank purchases was
one of the major reasons behind the rising gold prices since 2010 the
year that saw the Central Bank turned into buyers which naturally
concludes of the precious metal for the first time in 20 years with
growing doubts about the stability of the dollar as the world's reserve
currency.


The report showed the
monthly statistics of the International Monetary Fund during the three
months between August and October this year Iraq gold stocks have
quadrupled to $ 31.07 tons.


The first change in reserves for years bought Iraq towards 23.9 tons in total up to 18.5 tonnes. This was followed by an increase of 2.3
tons in September to total up to 32.09 tons then retreated 1.02 stocks
tonnes in October to 31.07 tons. No information for the month of November.


And
among other central banks lifted Brazil stocks of yellow metal for the
third consecutive month in November to strengthen nearly one third to
67.199 tons.


Russia has also added 2.86 tonnes to 937.82 tonnes and reserves is the eighth largest stocks of gold in the world.


And
the World Gold Council data showed that the United States is the
largest stock in the world keeps more than 8,100 tons of the precious
metal.


But some States have reduced its holdings of gold such as Turkey, Sri Lanka, Mexico and Mongolia.



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Iraq strengthens its gold reserves to reach more than 31 tons  Empty Re: Iraq strengthens its gold reserves to reach more than 31 tons

Post by Hkp1 on Fri 21 Dec 2012, 2:59 pm

Nice find Ward, This will add some major backing to their currency!!!
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Iraq strengthens its gold reserves to reach more than 31 tons  Empty Re: Iraq strengthens its gold reserves to reach more than 31 tons

Post by wciappetta on Fri 21 Dec 2012, 4:02 pm

Yeah and with the gold deposits they own I'm sure it's just the beginning...


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Iraq strengthens its gold reserves to reach more than 31 tons  Empty Re: Iraq strengthens its gold reserves to reach more than 31 tons

Post by lonelyintexas on Fri 21 Dec 2012, 4:09 pm

Yes, no telling how much they already possess.

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Iraq strengthens its gold reserves to reach more than 31 tons  Empty Re: Iraq strengthens its gold reserves to reach more than 31 tons

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