Shafaq News – Baghdad

Iraq’s gold reserves have climbed to a record valuation, the Eco Iraq Observatory said on Saturday, cautioning against using the bullion to cover budget shortfalls.

In a statement, the watchdog said Iraq now holds 170.9 tons of gold, worth about $23.64 billion, after buying 8.2 tons in 2025. The jump in value, it noted, reflects higher global gold prices rather than the scale of recent purchases.

However, Eco Iraq warned against selling the reserves or placing them in high-risk investments to address the fiscal deficit, describing the holdings as a sovereign buffer for financial stability, not a source of short-term revenue.

Iraq ranks fourth among Arab countries in gold reserves, behind Saudi Arabia, Lebanon, and Algeria, according to the World Gold Council (WGC).