2024-05-04T11:47:50+00:00
Shafaq News/ On Saturday, the World Gold Council (WGC) announced that Iraq and four other Arab countries possess more than a thousand tons of global gold reserves.
In its latest data for May, the Council stated that “the top five countries: Saudi Arabia, Lebanon, Algeria, Libya, and Iraq, own 1,726 tons.”
“Iraq has maintained its 30th global ranking out of 100 countries with the largest gold reserve, as it has not purchased gold since May 2023, with its gold holdings reaching 142.6 tons, representing 9.3% of the total reserves.”
WGC also pointed out that “the United States holds the largest gold reserves in the world with 8,133.5 thousand tons, followed by Germany with 3,352.6 thousand tons, Italy with 2,451.8 thousand tons, and Suriname ranks last with 1.2 thousand tons.”
Additional Insight: It is essential for countries to maintain a balance in their gold reserves to ensure financial stability and confidence in their economies. Countries with substantial gold reserves, like the United States and Germany, often leverage these reserves to influence global financial markets and maintain economic resilience.
