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Iraq maintains the size of gold reserves at 96.3 tons

The UAE continued to increase its gold reserves by the UAE Central Bank by more than 3.9 percent during the month of March of 2020, by buying 1.1 tons more, to be the only Arab country to continue buying gold under the current conditions of the Corona virus.

According to the latest data issued by the World Gold Council, the UAE’s possession amounted to 29.5 tons, which represents 1.4 percent of all reserves in it at the end of last March, as the data is issued two months late.

And the possession of central banks in 100 countries around the world is estimated at 34.86 thousand tons of gold by the end of March, according to the newly released official data.

The United States continues to control the first place with possession of 8133.5 tons of gold, which constitutes 78.3 percent of all the country’s reserves, while Germany is second in possession of 3364.2 tons of gold, which 74.3 percent of all reserves.

The Monetary Fund comes in the third place, in light of its gold reserves estimated at 2814 tons.

The development of Arab states’ possession

Most of the Arab countries’ holdings of yellow metal did not change during the month of March of this year, compared to February, in order for the UAE to maintain the same position in the 10th rank at the level of the Arab countries.

The UAE was ranked fourth among the Gulf Cooperation Council countries after Saudi Arabia, Kuwait and Qatar.

The Kingdom of Saudi Arabia preceded it with an Arab head of a fixed size from the beginning of this year, 323.1 tons, which represents 3.2 percent of its total reserves, to maintain the same 18th position in the world.

The possession of Lebanon of the yellow metal has reached the same since last January at 286.8 tons, with the acquisition of 28.8 percent of its total reserves, to maintain the 20th position globally.

Algeria’s possession of gold reaches 173.6 tons, with the acquisition of 11.8 percent of the reserves in the country, to be ranked 26th globally at the same levels at the beginning of 2020.

Libya ranked 33rd with possession of 116.6 tons of gold, the same at the beginning of this year, with the acquisition of 7.1 percent of its reserves.

And Iraq was positioned in the same 38th place with the size of the same gold reserves at the beginning of this year at 96.3 tons, with an acquisition rate of 7.2 percent of its reserves.

Egypt was ranked 40th in the world after possession of 79.4 tons, representing 9.2 percent of the country’s reserves, with the same reserves last month, and rising from 79.3 tons during the month ending January.

While Kuwait came in the same rank 41st in the world with the same size of its possession of the yellow metal with a volume of 79 tons, thus accounting for 9.2 percent of its reserves.

Jordan maintained the 49th position globally with a size of 43.5 tons of gold, accounting for 14.8 percent of its reserves, followed by Qatar in the 51st position the same last month with 42.2 tons of yellow metal, representing 5.4 percent of the total Qatar reserves, at the same levels.

Syria was ranked 60th after the UAE, with a reserves size of 25.8 tons, with a acquisition of 7.4 percent of the country’s total reserves, and Morocco ranked 63rd in the world with a volume of 22.1 tons, with a 4.4 percent acquisition of the country’s reserves.

Tunisia occupied the 81st position in the world, with gold reserves reaching 6.8 tons, representing 4.5 percent of the country’s reserves, and then the Kingdom of Bahrain ranked 87th globally with a volume of 4.7 tons, with a acquisition of 6 percent of the total reserves in the country. Source