Gold reserves in Iraq’s vaults are more than 96 tons

Gold reserves in Iraq’s vaults are more than 96 tons

2022.03.17 – 18:25

Gold reserves in Iraqs vaults are more than 96 tonsBaghdad – people

On Thursday, the Central Bank of Iraq disclosed the size of the gold reserves in Iraq, among its global ranking.

And the Deputy Governor of the Central Bank, Ihsan Shamran, stated, in a statement to the official agency, followed by “Nass” (March 17, 2022), that “the gold reserves in Iraq amount to 96.4 tons,” noting that “Iraq is located in the international gold reserve arrangement in sequence 37.”

It is noteworthy that the World Gold Council, last January, published its report on the reserves of the central banks in the world of gold, and the data showed that the reserves amounted to 35571.3 tons of the metal.

According to the data, total reserves increased by 11 tons in the January 2022 report, compared to December 2021.

The United States leads the world in reserves of the precious metal, followed by Germany, then Italy, then France, and then Russia, while Saudi Arabia came at the fore in the Arab countries with gold reserves, as the Kingdom owns 323.1 tons of the precious metal, according to the first report This year’s World Gold Council.

Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.