The world’s gold reserves are declining, and Iraq maintains its position

The world’s gold reserves are declining, and Iraq maintains its position

2022-01-08 07:39

The worlds gold reserves are declining and Iraq maintains its positionShafaq News/ Today, Saturday, the World Gold Council announced a decline in the world’s gold reserves after the central banks of countries sold large quantities of gold within one month, while Iraq maintained its global position.

The council said in its latest schedule for the month of January 2022, which was reviewed by Shafak News Agency; “The world’s gold reserves declined as a result of the central banks selling large quantities of it, amounting to 21.5 tons of gold,” noting that “Uzbekistan sold 21.5 tons of gold to reach 353.6 tons, while Turkey sold 7 tons, Russia 3.1 tons and the Kyrgyz Republic 1.4 tons.”

He added that “a small group of regular buyers bought quantities of gold, namely Kazakhstan 4.3 tons, Poland 3.4 tons, India 2.8 tons, and Ireland 0.7 tons.”

He pointed out that “Iraq maintained its global position 39 for the sixth consecutive month out of the 100 countries listed in the table with the largest gold reserves, reaching 96.4 tons of gold, which represents 9% of the rest of its other reserves.”

He explained that “Iraq also maintained its fifth rank in the Arab world after Saudi Arabia, Libya, Algeria and Lebanon,” noting that “the total possession of gold in the five Arab countries amounts to 996.5 tons.”

He pointed out that “the United States still leads the rest of the countries with the largest gold possession in the world, with 8,133 thousand tons, followed by Germany, 3,359 thousand tons, then Italy 2,451 thousand tons, while Suriname ranked 100, with 1.5 tons, preceded by Yemen, with 1.6 tons.”

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.