World Council: Five Arab countries, including Iraq, has about a thousand tons of gold reserves

World Council: Five Arab countries, including Iraq, has about a thousand tons of gold reserves

2019-09-07 | 05:01

The World Gold Council announced on Saturday that five Arab countries, including Iraq, have nearly a thousand tons of gold reserves.

"Saudi Arabia, Lebanon, Algeria, Libya and Iraq have the largest gold reserves among other Arab countries with a total of 996.4 tonnes," the council said in a survey published on its website in September.

He added that "the amount of gold reserves of Saudi Arabia amounted to 323.1 tons, while the gold reserves of the State of Lebanon 286.8 tons, while the amount of reserves for the State of Algeria 173.6 tons," noting that "the gold reserves of the State of Libya amounted to 116.6 tons, while the amount of gold reserves for Iraq 96.3 tons Tons. "

He pointed out that "Iraq still maintains its 38th position globally with the largest gold reserves out of 100 countries included in the international financial statistics of global gold reserves, where these reserves amounted to 96.3 tons, which represents 6.5% of the rest of its other currencies."

The World Gold Council, based in the United Kingdom, has extensive experience and knowledge of the factors causing the market change and its members are composed of the largest and most advanced gold mining companies in the world.


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