IRAQ TREBLES SIZE OF GOLD RESERVES

[tennesseem]

A REPORT THIS MORNING BY THE WORLD GOLD COUNCIL SAYS THAT IRAQS CENTRAL BANK BOUGHT 48 TONNES OF GOLD DURING 2014,TREBLING THE SIZE OF ITS GOLD RESERVES OVER THE YEAR.  FORTIFICATION AND DIVERSIFICATION OF RESERVES,NAMELY AWAY FROM THE US DOLLAR, CONTINUES TO BE THE DRIVING FORCE BEHIND THIS ACTIVITY, ACCORDING TO THE WGC.

[Officiallytook]

Gravy...

[King Bean]

That's "roughly" $5.5 billion in gold alone. Now that's what I call a RESERVE.

[SnowGlobe7]

I was not even aware of the world gold council

 

http://www.gold.org/

[brokerkeith]

Gravy...

 

What's wrong with you?...............you forgot the biscuits...

 

[tennesseem]

WOULD THIS GOLD BE USED TO HELP BACK THE VALUE OF THE DINAR GOING UP?

[Canadian in Aussie]

That's "roughly" $5.5 billion in gold alone. Now that's what I call a RESERVE.

 

King Bean its stating thats what they purchased last year 48 tonnes. So what is the total amount Now in the gold reserves? eneyone know

[magicman6685]

I believe it is three times that amount, around 150 tons of GOLD.

[kenshin7]

i may be wrong , but I think they also bought 76 tons  too ,  I hope some one may clarify this is they have  better facts

but I do believe that they are between 96 and 150 tons of gold reserves

[kennyc]

Triples the amount?

[sandfly]

THANKS

[calkid11]

Thank you. , welcome back Sandfly missed you

[dontlop]

I think it's around 116 tons total

The usa good reserves are over 8000 tons

I think China has the most

The cbi web site says right under foriegn reserves it says they have

5100billion dinar worth of gold and sdr combined

So around 4.6 billion dollars worth

Of gold and sdr

The cbi is the only one licensed to buy gold in iraq so they buy it for the kurds and the kurds have about 28 tons in the private market in jewlery and such

Kurdish gold

http://rudaw.net/english/business/12072014