Iraq Leads Arab Nations in Gold Purchases for 2024
Iraq has emerged as the leading Arab nation in gold acquisition, according to recent data from the World Gold Council. The country’s gold purchases in 2024 reached approximately 20.1 tons, significantly increasing from 12.3 tons in 2023. This brings Iraq’s total gold reserves to around 152 tons.
In a comparative analysis, Qatar ranked second within the Arab region, purchasing 9.9 tons of gold, while the UAE secured third place with 1.3 tons. Egypt followed in the fourth position with 0.6 tons.
On a global scale, Iraq stands seventh as the largest purchaser of gold for 2024, trailing behind Poland, which occupied the top spot with 90 tons. Other notable buyers include Turkey with 75 tons, India with 72 tons, followed by Azerbaijan and China.
| Rank | Country | Gold Purchases (Tons) |
|---|---|---|
| 1 | Poland | 90 |
| 2 | Turkey | 75 |
| 3 | India | 72 |
| 4 | Azerbaijan | Data not specified |
| 5 | China | Data not specified |
| 6 | Chic | Data not specified |
| 7 | Iraq | 20.1 |
The surge in Iraq’s gold purchases underscores a growing trend towards asset diversification, positioning the country prominently within the global gold market. The World Gold Council’s findings highlight the strategic importance that precious metals hold in the current economic climate, particularly for nations looking to bolster their financial reserves and enhance economic stability.
