Including Iraq, Gold reserves of five Arab countries amount to +1,000 tons

Shafaq News/ The Arab top five reserves of Gold amount collectively to more than one thousand tons in the third quarter of 2021, the World Gold Council said in its latest update in November 2021.

"Saudi Arabia (323.1 tons), Lebanon (286.8 tons), Algeria (173.6 tons), Libya (116.6 tons), and Iraq (96.4 tons) grossed 1000.5 tons in the third quarter, up from 996.5 tons in the second," the Council said.

The United States remains the top dog with 8,133 tons, followed by Germany and Italy with 3,259 and 2,451 tons. France ranked fourth with 2,436 tons. Russia's reserves amounted to 2,292 tons.

The World Gold Council is the market development organization for the gold industry. It works across all parts of the industry, from gold mining to investment, and their aim is to stimulate and sustain demand for gold.