Instability of the dollar and the euro regions asylum behind the central bank to keep gold
Who specializes in economic affairs: the instability of the dollar and the euro regions asylum behind the central bank to keep gold
Date: 01/28/2013 12:38:21 Monday
Baghdad (news) .. Return specialist in economic affairs Dargham Muhammad Ali, a reason for asylum CBI to increase its gold reserves to the economic crisis taking place in most European countries and the U.S..
Said Mohammed Ali (of the Agency news): Iraq is ranked (44) globally among the most possession of gold according to the report of the International Monetary Fund, and this center is acceptable compared to Iraq’s growing economy.
He continued: in particular, and he does not reflect the largest percentage of investments for reserves external monetary Iraq, what makes the national economy in the relatively safe from being influenced by the expected global economic shocks to a large number of European countries.
He noted, that the gold markets began experiencing volatility relatively months last four because of improved dollar zone influenced by the recovery of consumption in the world and solve the banking crisis the U.S., making Iraq invoked to reduce the balance of gold has during the current period, than it was six months ago.
He showed data from the International Monetary Fund that Iraq reduce its holdings of gold by a quarter to 9 t 29 tons last November, after efforts to strengthen reserves in recent weeks.
The reserves Baghdad tiny compared with the United States, which has holdings are the largest ever and size of 8133 tons, but Iraq remains in fourth place and forty between more than 115 countries on the list of gold holdings to the International Monetary Fund.
The purchases by central banks went source key support for gold prices, which recorded a record high in September 2011, as data showed rising reserves of Russia gold 9.19 tonnes to 8.957 tonnes in December to jump two spots to sixth place in the world in terms of holdings precious metal. / Finished / 8. n. p /