Iraq Increases Gold Reserves by 10 Tons
The World Gold Council has recently confirmed that Iraq has augmented its gold reserves by 10 tons. This adjustment brings the country’s total gold holdings to 162.7 tons, up from 152.7 tons reported the previous month. Notably, gold now constitutes 13.6% of Iraq’s total reserves.
As of the latest rankings, Iraq occupies the 28th position out of 100 countries in terms of gold reserves, ranking fourth among Arab nations, trailing behind Saudi Arabia, Lebanon, and Algeria.
The Council also highlighted that the United States continues to lead globally with the highest gold reserves, totaling 8,133 tons. Following the U.S. are Germany with 3,351 tons, and Italy with 2,451 tons. Notably, Iceland reports a mere 2 tons.
An increase in a nation’s gold reserves typically signals a strategic enhancement of its financial safety, empowering the country or its central bank to better navigate potential economic or financial crises.
The World Gold Council, based in the United Kingdom, possesses significant expertise and insight into market dynamics. Its membership encompasses some of the world’s largest and most sophisticated gold mining companies.
