Iraq Leads Arab Nations in Gold Purchases for 2024
In a recent report by the World Gold Council, Iraq has emerged as the largest purchaser of gold among Arab countries in 2024. According to the council’s data, Iraq’s gold acquisitions reached approximately 20.1 tons, resulting in total reserves of 152 tons. This marks a significant increase compared to the 12.3 tons purchased in 2023.
Qatar ranked second in gold consumption within the region, with purchases totaling 9.9 tons. The United Arab Emirates followed in third place with 1.3 tons, while Egypt secured the fourth position with a total of 0.6 tons.
The World Gold Council also highlighted that Iraq is positioned as the seventh-largest buyer of gold worldwide in 2024. Poland topped the global rankings with gold purchases amounting to 90 tons, followed by Turkey at 75 tons, India with 72 tons, and Derbjan and China completing the top five.
This influx in gold purchases reflects Iraq’s strategies in strengthening its financial reserves and stabilizing its economy through tangible asset accumulation.
