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Friday 06 September 2019
Friday 06 September 2019
سعد الطائي Free Membership
The precious metal (gold) is one of the most important wealth that people are keen to acquire and retain throughout the history of humanity and for thousands of years, and the importance of gold, as one of the important wealth of States to this day, and is expected to continue its importance for long periods to come.
It is known that all the central banks in the various countries of the world rely on gold, the dollar and the euro as well as a basket of other currencies as reserves, but the economic crises experienced by the global economy over the past periods of time proved that gold is a stable value and a safe haven largely compared to currencies.
In light of the current economic fluctuations caused by the US-China trade war, amid signs of a currency war that could prolong further depleting its value, the dollar is losing its dominant position in the global economy due to the transfer of the economy. China, led by the US, is approaching becoming the world's first economy.
From this summary presentation we can conclude that the dollar and the rest of the world currencies are no longer a safe haven for the reserves of the global central banks, unlike gold, which has proven to be a constant value, but rising over the years. The dollar as a reserve due to the vibrations that have been exposed to its value and what will be exposed to it in the future.
Recent data indicate that many central banks in various countries of the world began to increase their reserves of gold and the lack of excessive dependence on the dollar, which made its prices rise due to the appetite for buying it. Hence, the investment of the Central Bank of Iraq in gold is a guaranteed gain and puts these reserves in the safety box as it is a safe haven, and at the same time prefer to reduce dependence on the dollar as a reserve of guaranteed value as was the case in previous periods after the forefront of foreign currencies globally, which is He began to lose this status that lasted for decades.
This is in line with the estimates of many sober financial institutions recently that the dollar has lost its global status as the world's first hard currency compared to other currencies.
Therefore, it is a pressing priority at the present time that Iraq is working to increase its investment of gold as much as possible, in order to keep pace with the changes in the field of safer reserves, which are heading to the yellow metal, which has long been and remains a safe haven in economic and financial crises and volatility across
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