In the third quarter of 2025, Iraq will purchase 6 tons of gold.
In the third quarter of 2025, Iraq will purchase 6 tons of gold.
2025-11-22 01:40
Shafaq News – Baghdad
The World Gold Council announced on Saturday that Iraq purchased 6 tons of gold during the third quarter of this year.
The council stated in a report seen by Shafaq News Agency that central banks around the world were the main driver of gold demand in the third quarter, as their purchases increased after a slowdown in the first and second quarters, and net gold purchases in the third quarter amounted to about 220 tons.
He added that although gold prices, which have risen by about 50% since the beginning of the year to reach new record levels, the increase in demand in the last quarter shows that central banks continue to strategically accumulate gold, despite the high prices, noting that Iraq bought 6 tons of gold in the third quarter to increase its reserves to 170 tons.
He added that the Central Bank of Kazakhstan was the largest buyer in the third quarter of this year, adding 18 tons to its gold reserves, bringing the total to 324 tons, and the Brazilian Central Bank bought an additional 15 tons in September, bringing its total gold holdings to 145 tons.
The Turkish central bank also continued its gold purchases, increasing its official reserves by 7 tons in the third quarter, bringing the total to 641 tons. The People’s Bank of China added 5 tons, the Czech National Bank added 5 tons, and the Bank of Ghana added 4 tons.
On the other hand, only two countries reported a decrease in their gold reserves in the third quarter: the Central Bank of Uzbekistan -3 tons, and the Central Bank of Qatar -1 ton.
shafaq.com
