Iraq is ranked second among the Arab countries that buy the most gold in the year 2023
Iraq is ranked second among the Arab countries that buy the most gold in the year 2023
2024-02-03 02:00
Shafaq News/ The World Gold Council revealed, on Saturday, that Iraq, Libya and Qatar are among the top 10 list of Arab central banks that buy the most gold in the year 2023, amid the countries continuing to enhance their reserves of the yellow metal as a safe haven, especially with the current economic and geopolitical crises.
According to these data, global central banks’ net purchases of gold decreased last year to 1,037.4 tons, compared to 1,081.9 tons in 2022, but it is still the second highest level in more than 55 years.
The People’s Bank of China topped the list of central banks purchasing the most gold in 2023, with a volume of 224.88 tons, followed by Poland second with 130.3 tons, followed by Singapore third with 76.51 tons, followed by Libya fourth with 30.1 tons, followed by the Czech Republic fifth with 18.71 tons, followed by India sixth. With 16.22 tons.
While Iraq came seventh with the most banks purchasing gold in 2023, reaching 12.25 tons, followed by Qatar eighth with 7.44 tons, followed by the Philippines ninth with 7.10 tons, followed by Kyrgyzstan tenth with 6.95 tons.
According to the World Gold Council report, global demand for gold – excluding the over-the-counter market – declined to 4,448 tons in 2023, compared to 4,699 tons in the previous year.
shafaq.com
