Iraq maintains its status of gold reserves

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Iraq maintains its status of gold reserves

Post  Admin on Sat Jun 02, 2018 4:02 pm

02/6/2018 5:02 PM

Capitals / follow-up morning
States have huge gold reserves to use when necessary and to support the value of their currency, especially if they want to print more money and pump it into local markets. Gold reserves contribute to currency appreciation and protection from collapse.


Saudi Arabia ranked first in the Arab countries and ranked 16th in the world, in possession of gold, during the current May, with reserves of 322.9 tons, 2.7 percent of the total reserves, according to the latest report of the World Gold Council, while Lebanon ranked second in the Arab world and 19 globally, With reserves amounting to 286.8 tons, representing 21.6 percent of the total global reserves.


Algeria ranked third in the Arab world and 24 in the world, with reserves of 173.6 tons, 7 percent, Libya ranked fourth in the Arab world and 31 in the world, with reserves of 116.6 tons, 6.3 percent.


Iraq ranked fifth in the world and ranked 37th in the world with reserves of 89.8 tons, 7.8%, followed by Kuwait, which ranked sixth in the Arab world and 39 in the world, with reserves of 79 tons, 8.7%, Egypt is the seventh Arab and 40 global, percent.


In May, Russia advanced to China, the world's second-largest economy, with gold reserves. Its annual reserves rose by 210 tons of gold, up 0.7 percent from the same month last year.


The report showed that Russia ranked sixth in the world in 2018, the size of reserves reached 1890.8 tons, accounting for 17.6 percent of the total reserves, while China came in seventh place with reserves of 1842.6 tons, accounting for 2.4 percent of the total reserves.


The United States ranked first with reserves of 8133.5 tons, 75 percent of the total reserves, followed by Germany with a total reserves of 3372.2 tonnes, or 70.3 percent.


The International Monetary Fund came third with reserves of 2,814 tons, Italy came in fourth place with reserves amounted to 2451.8 tons, or 67.8 percent.


France came in fifth with 2,436 tonnes, 63.4 percent, followed by Russia and China in sixth and seventh respectively.


On a year-on-year basis, the United States also ranked first in May 2017 with reserves of 8133.5 tons, 75.1 percent. Germany came second with 3377.9 percent, 69.4 percent, and the International Monetary Fund with 2,814 tonnes.




Italy ranked fourth with reserves of 2451.8 tons, or 68.3 percent, followed by France with 2,435.9 tonnes, or 64.2 percent.


China came in sixth place with reserves of 1842.6, 2.4 percent, and Russia seventh with 1680.1 percent, 16.9 percent.


http://www.alsabaah.iq/ArticleShow.aspx?ID=158045

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