Iraq is ranked 38th in the table of the world's largest gold reserves

Gold ingot in Kazakhstan. Reuters
 
03/10/2021

Economy News - Baghdad

The World Gold Council announced, on Wednesday, that the United States of America ranked first and Iraq in the 38th place as the world's largest reserves of the precious yellow metal.

The council said in its schedule for the month of March, that the possession of central banks of the 100 countries listed in the table amounted to 35,244 thousand tons, adding that the United States of America ranked first as the largest gold reserve it possessed with an amount of 8,133 thousand tons, followed by Germany with an amount of 3,362 thousand tons, then comes a fund International currency by 2.814 thousand tons, and Italy comes fourth with 2,451 thousand tons, while Yemen comes to the top with 1.6 tons, followed by Haiti by 1.8 tons.

He continued, "Iraq still maintains the 38th position in the world and the fifth in the Arab world with the largest gold reserves at 96.3 tons, which represents 10% of the rest of the other reserves," noting that "the last purchase of gold by Iraq was in September 2020, with an amount of 0.1 tons." .

He pointed out that "the most prominent buyers of gold during this month are Uzbekistan, by 8.1 tons, and Kazakhstan, by 2.8 tons, while the most prominent sellers were Turkey, by 17.2 tons, and Russia, by 3.1 tons."

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