Shafaq News – Baghdad

Iraq added six tons of gold to its reserves in the third quarter of this year, the World Gold Council reported on Saturday.

The council said global central banks drove gold demand during the quarter after a slowdown in the first half of the year, bringing net purchases to about 220 tons. Despite a nearly 50% surge in gold prices since January and new all-time highs, the report noted that central banks continue to accumulate the metal as a strategic reserve asset.

Iraq’s latest purchase raises its total gold holdings to 170 tons.

Kazakhstan was the largest buyer in the third quarter, adding 18 tons to reach 324 tons in reserves. Brazil followed with a 15-ton purchase in September, lifting its total to 145 tons.

Turkiye increased its official reserves by seven tons, bringing its holdings to 641 tons, while China’s central bank added five tons, the Czech National Bank five tons, and Ghana four tons.

Only two countries reported reductions: Uzbekistan, which cut three tons, and Qatar, which reduced its reserves by one ton.