Baghdad (IraqiNews.com) – The World Gold Council revealed on Wednesday that Iraq has increased its gold reserves to 152.6 tons.
According to the most recent data released by the council, Iraq ranked as the 29th-largest gold-holding country out of 100 countries, Shafaq News reported.
Additionally, Iraq came in third place in the Arab world after Saudi Arabia and Lebanon.
Iraq increased its gold holdings from 152.5 tons to 152.6 tons, representing 11.5 percent of its remaining reserves.
In mid-September, the World Gold Council mentioned that Iraq purchased almost 52 tons of gold between September 2022 and September 2024.
In July, the International Monetary Fund (IMF) revealed that Iraq and Qatar increased their gold reserves.
According to the IMF, Iraq’s gold holdings climbed by 2.64 tons in May 2024, bringing its total gold holdings to 148.3 tons.
This growth reflects Iraq’s ongoing efforts to diversify its foreign reserves and improve long-term financial and monetary stability.
Gold is a traditional safe haven for investors, particularly during times of economic and geopolitical instability.
The Central Bank of Iraq (CBI) purchased 34 tons of gold in June 2022, representing an increase of 35 percent in its holdings at that time.
Iraq is one of the countries that possess large gold reserves in the Arab region. This increase in Iraq’s gold reserves is considered a positive indicator, reflecting the strength of the Iraqi economy.
Central banks around the world are expanding their bullion holdings amid mounting geopolitical and economic risks.
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