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Iraq's Gold reserve remains the 38th globally

Category: Economy

Date: 2021-04-07T10:55:56+0000
Iraq's Gold reserve remains the 38th globally

Shafaq News/ Iraq's gold reserve retained the 38th ranking worldwide, the monthly report of the World Gold Council said.

The Council, in its latest (April) update to the list of largest Gold reserves for 2021, said that the cumulative possessions of the Central banks of the hundred countries in this list amounted to 35.218 thousand tons.

Iraq is 38th on the list, fifth among Arab Countries, with 96.3 tons, equivalent to 8.9% of the world's reserves.

US is still the top dog with 8.133 thousand tons, followed by Germany with 3.362 thousand tons. Yemen came the least on the list with 1.6 tons, preceded by Haiti with 1.8 tons.

Top gold buyers were India and Uzbekistan by 11.2 and 7.2 tons, respectively, followed by a margin by Kazakhstan and Columbia with 1.6 and 0.5 tons.

Turkey was the top seller with 11.7 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.

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