Including Iraq..discovering Arab countries’ gold reserves
The World Gold Council published its report for the month of June 2022 on the reserves of the central banks in the world of gold, and the data showed that the reserves amounted to 35568.40 tons of the metal.
Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.
In the Arab world, Saudi Arabia leads the Arab countries in gold reserves, as the Kingdom owns 323.1 tons of the precious metal, according to a report by the World Gold Council.
In second place comes Lebanon, with reserves of 286.8 tons, and then Algeria, with reserves of 173.8 tons.
With regard to the share of gold in the international reserves of Arab countries, the data shows that Lebanon leads the Arab countries in this indicator, as the precious metal constitutes about 50.7% of the total value of its reserves, in the second place comes Egypt, and gold constitutes about 21.8% of its international reserves.
The following is a table showing the ranking of the Arab countries in gold reserves, and the share of gold in the reserves of these countries, based on the World Gold Council report for the month of June 2022: