Iraq Increases Gold Reserves to 162.7 Tons, Ranks Fourth in Arab World

Iraq has increased its gold reserves by 10 tons, totaling 162.7 tons, according to the World Gold Council. This places Iraq fourth in the Arab world and 28th globally. The United States holds the most gold at 8,133 tons, with Germany and Italy following behind.

Iraq has successfully augmented its gold reserves by 10 tons, elevating the total to 162.7 tons, as reported by the World Gold Council (WGC) on Wednesday. This recent increase marks a rise from 152.7 tons just a month prior, representing 13.6% of Iraq’s total reserves.

As a result of this enhancement, Iraq is now positioned as the 28th largest gold holder globally among 100 countries, and fourth within the Arab region, following Saudi Arabia, Lebanon, and Algeria. According to WGC data, the United States retains the title of the world’s largest gold holder, with 8,133 tons, while Germany and Italy follow with 3,351 and 2,451 tons, respectively. In contrast, Iceland’s gold reserves are notably modest, totaling just 2 tons.

In summary, Iraq’s strategic increase in gold reserves to 162.7 tons places the country fourth in the Arab world and enhances its global ranking to 28th overall. This development underscores the importance of gold as a component of national reserves, highlighting Iraq’s ongoing economic strategy to bolster its financial stability.

Original Source: shafaq.com