Iraq Daily Journal

IRAQ MAINTAINS 37TH PLACE IN THE WORLD AND FIFTH IN THE ARAB WORLD WITH THE HIGHEST GOLD RESERVES

Iraq has maintained its 37th position in the world’s fifth largest gold reserves in December despite buying 6.5 tons in September, the World Gold Council said on Sunday.

The Council said in a statistical published on its website and viewed by Alsumaria News, that ‘Iraq has maintained the rank 37 in the world in terms of these reserves out of the 100 countries listed in the international financial statistics of the global reserves of gold, and ranked fifth in the Arab world, after it came after Saudi Arabia, Lebanon, Algeria and Libya ‘.

Iraq expects to grow by 4.1 percent in 2019 Iraq is the fourth largest importer of Turkey, the council added, adding that Iraq bought 6.5 tons of gold in September to raise its reserves to 96.3 tons of gold after it was 89.8 tons, maintained its rank 37 globally, indicating that these reserves represent 6.4% of the rest of the other currencies’.

“The United States ranked first in the world in terms of reserves, which amounted to 8.133.5 tons, followed by Germany with 3.369 tons, while Laos occupied the last rank 0.9 tons of gold.”

The World Gold Council, based in the United Kingdom, has extensive experience and deep knowledge of the drivers of market change and its members are among the largest and most advanced gold mining companies in the world. Source