Economist: the instability of the dollar and the euro regions asylum behind the central bank to keep gold

Return specialist in economic affairs Dargham Muhammad Ali, a reason for asylum CBI to increase its reserve of gold to the economic crisis taking place in most European countries and the U.S..

said Mohammed Ali (of the Agency news): The Iraq ranked (44) globally among the most possession of gold, according to the IMF report, and this center is acceptable compared to Iraq’s economy developing.

continued: in particular, and it does not reflect the largest percentage of investments for reserves Iraq cash outside, what makes the national economy in the immune relatively vulnerable tremors global economic forecast for 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. was have shown data from the International Monetary Fund that Iraq reduce its holdings of gold by a quarter to 9.29 tonnes 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, size 8133 tons but Iraq remains ranked forty-fourth among more than 115 countries on the list of gold holdings to the International Monetary Fund. represent 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 tons to 8.957 tons in December to jump two spots to sixth place in the world in terms of holdings of the precious metal.