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World Gold Council: Iraq ended 2019 without buying anything from it


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Iraq ranks fifth in the Arab world with the largest reserves of gold

 

BAGHDAD (Reuters) - Iraq has maintained its fifth position in the Arab world with the largest gold reserves for June, indicating that Russia was the most buying countries for gold in 2019.

"Iraq maintained its fifth Arab position in the largest gold reserves for June after Saudi Arabia, Lebanon, Algeria and Libya, which reached 96.3 tons, representing 6.1 percent of the rest of the other currencies," the council said in a statement published on its website.

The Council added that "Iraq also maintained the rank of 38 out of 100 countries listed in the international financial statistics of the global reserves of gold," noting that "the last purchase of gold for Iraq was in September of 2018 and the amount of 6.5 tons."

He added that "Russia was the most buying countries for gold during the current year and 70.4 tons, followed by China by 47.9, followed by Turkey by 42.7 tons," explaining that "the United States is still on the throne occupying the first place in the world in terms of these reserves, Amounted to 8.133.5 tons, followed by Germany with 3.367 tons.

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  • yota691 changed the title to Central banks around the world continue to buy gold

Central banks around the world continue to buy gold

Central banks around the world continue to buy gold

10 June 2019 09:20 PM

From: Sally Ismail

Mubasher: In 2010, central banks around the world stopped selling gold to begin a new era of buying as a hedge against economic uncertainty and currency manipulation.

The question is who has the largest reserves of precious metals around the world, and what are the most gold-buying countries? And what is the ranking of the most heavily-populated Arab countries? The answer comes through the latest World Gold Council report of April 2019.

According to the World Gold Council's monthly report, Russia, China and Uzbekistan were the countries with the highest addition of yellow metal to their central bank holdings in April.

The total holdings of central banks in 100 countries around the world of gold 34.023 thousand tons by the end of April / April 2019, with net purchases in that month alone amounted to 43 tons , up 8 percent from the March / March , the former for him.

The total net purchases of central banks that have been reported during the current year to date (ie during the first 4 months of 2019) is 207 tons, the highest level in the same period of the year since central banks became buyers in 2010.

This can be seen as a strong trend towards precious metal, especially since it follows the highest annual purchases in nearly 50 years in 2018.

 

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What are the highlights?

The demand for gold during April has many features with the first quarter of this year .

Five central banks reported an increase in their reserves of more than one tonne during the month, bringing the total number of banks that increased their reserves in 2019 to eight at a purchasing pace of 212 tons in the January- April.

Among other things, gold demand among central banks is concentrated in emerging markets, with Russia, Turkey, China, Kazakhstan and India being the top buyers this year.

Germany was the only country to report a reduction in the volume of gold reserves by more than one tonne in April due to the old currency program.

It should be noted that this report was updated in June 2019 and data available at the time, based on the IMF's international financial statistics, which are two months late, meaning that they represent state holdings by the end of April and in some countries March , In addition to other sources.

The Gold Board does not include all those who own gold, such as those that have not reported possession of the metal to the IMF in the last 6 months, as well as countries that are known to own gold, but do not publicly disclose their holdings.

Who do you buy the most?

As usual, Russia is in the lead as the most expensive buyer of the precious metal, adding 15 tons of gold to its reserves during April 2019.

China went the same way as the White Bear countries with respect to gold reserves, buying 15 tons of precious metal also that month.

Both Russia and China have seen a shift in recent years to become one of the world's largest gold buyers since 2014, prompting both countries to place a clear position within the world's top 7 gold holders.

In third place, Uzbekistan, which added about 8 tons of gold to its central bank reserve gold.

Who is the most possession?

The list of gold miners has not seen strong changes as the International Monetary Fund remains on the top 10 list by the end of April 2019.

The United States remained at the top of the list of the world's largest mineral holding countries with 8133.5 tonnes, accounting for about 74.6 percent of all reserves in its possession.

Germany was second with 3367.9 tons of gold or 69.9 percent of its global reserves, followed by the International Monetary Fund (IMF) with 2814 tonnes.

The IMF is the only institution in the list of most gold-winning countries, which means it is excluded from the list of the Netherlands joining the list.

Italy and France each finished fourth and fifth with 2451.8 tons and 2436 tonnes of gold, accounting for 65.5 percent and 59.8 percent, respectively, of their total reserves.

And occupied Russia , the sixth ranking , followed by China , the seventh rank, to climb the total Imitlcanh of gold to 2183.4 tons and 1900.4 tons respectively, which is equivalent to 18.3 percent and 2.5 percent of the reserves.

The eighth place was awarded to Switzerland , possession of gold of 1040 tons , or the equivalent of 5.3 percent of the total reserves , followed by Japan 's ninth place possessing 765.2 tons of metal, representing 2.4 percent of all global reserves.

The last place on the top 10 list was one change, with India gaining 612.6 tons of gold, or 6.1 percent of the country's global reserves.

India has overtaken the Netherlands, which is out of the list, with 612.5 tons of gold, accounting for 66 percent of its global reserves.

What is the order of the Arab countries?

The changes in the list of the most powerful Arab countries were not in terms of their ranking at the Arab level but they were in their global positions, which declined significantly .

Saudi Arabia tops the list of the world's most powerful Arab states with 323.1 tons of gold, or 2.7 percent of its total reserves, but still ranks 17th in the world.

Lebanon came first in the Arab world with 286.8 tons of gold, or 23.1 percent of its reserves, but fell to 20th place globally.

The third place in the Arab world was Algeria, but ranked No. 25 in the world, with 173.6 tons of gold or 8.6% of all its global reserves.

And replaced Libya and Iraq , the fourth and fifth respectively scored a Arab list but any work ranked No. 33 and 38 globally, the first to acquire 116.6 tons of metal, representing 6.2 percent of the reserves of all the other owns 96.3 tons of gold or the equivalent of 6.1 percent.

In the two centers directly to Iraq , whether Arab or globally it came Kuwait and Egypt , where he owns Kuwait 79 tonnes of gold , or the equivalent of 7.9 percent of all reserves to occupy the sixth ranking Arab and No. 39 globally.

As for Egypt , which replaced the seventh Arab Center, it owns 78.5 tons of gold , or the equivalent of 7.5 percent of all reserves, but operates ranking No. 40 globally.

The centers come in No. 8, 9 and 10 at the level of the Arab Jordan followed by Qatar and Syria .

But Jordan ranked No. 49 globally with 43.5 tonnes of yellow metal, accounting for 12.1 percent of its total global reserves.

The Qatar came in the order number 53 on the comparative level of global ownership of gold of 37.5 tonnes, accounting for about 4.6 percent of all reserves.

For Syria, it ranked No. 57 in the world, with 25.8 tons of gold equivalent to 6 percent of its global reserves.

Morocco, UAE, Tunisia, Bahrain and Yemen respectively ranked fifth in the list of Arab countries but ranked 59, 77, 81, 86 and 98, respectively.

Morocco has 22.1 tonnes of gold, or 3.8 percent of its reserves, and the UAE, with 7.5 tonnes of gold, accounts for only 0.3 percent of its global reserves.

With regard to Tunisia's gold holdings , it reached 6.8 percent or 4.8 percent of the reserves, followed by Bahrain with 4.7 tons of the yellow metal representing 8.4 percent of the total reserves in its possession.

And finished bottom of the Yemen - based possession of 1.6 tons of gold, accounting for about 1.3 percent of all global reserves.

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  • yota691 changed the title to Iraq is the fifth Arab and the world's 38th percent possession of gold

Iraq is the fifth Arab and the world's 38th percent possession of gold

 
 
Baghdad / follow-up
 
 
In 2010, central banks around the world stopped selling gold to start a new era of buying it as a hedge against economic uncertainty and currency manipulation.
Questions about who has the largest reserves of precious metal around the world ?, and what are the most buying countries for gold ?, and what is the ranking of the most Arab countries possess ?, to respond to the latest report of the World Gold Council for the month of April 2019.
 
 
 
First positions
According to the World Gold Council's monthly report, Iraq is fifth in the Arab list and 38 globally, with 96.3 tons of gold or 6.1 percent.
 The countries that saw the highest addition of yellow metal to the holdings of central banks during the last April are Russia, China and Uzbekistan.
Central bank holdings in 100 countries around the world totaled 34,023 thousand tons by the end of April 2019, with net purchases in that month alone reaching 43 tons, up 8 percent from March.
The total net purchases of central banks reported during the current year to date (ie during the first 4 months of 2019) were 207 tons, the highest level in the same period in a year since central banks became buyers in 2010.
This can be seen as a strong trend towards precious metals, especially since it follows the highest annual purchases in nearly 50 years in 2018.
 
Bank reserves
The demand for gold during April has many features with the first quarter of this year. Five central banks reported an increase in their reserves of more than one tonne during the month, bringing the total number of banks that increased their reserves in 2019 to eight at a purchasing pace of 212 tons in the period from January to April.
Among other things, demand for gold among central banks is concentrated in emerging markets, with Russia, Turkey, China, Kazakhstan and India being at the forefront of buyers this year so far.
Germany was the only country that reported its central bank a drop in the volume of gold reserves by more than one tonne during April due to the SEC program 
The old coin.
It should be noted that this report was updated in Herizan 2019 and the data available at that time. It depends on the IMF's international financial statistics, which are two months late, meaning that they represent state holdings by the end of April and in some countries in March, in addition to other sources.
The Gold Board does not include all those who own gold, such as those that have not reported possession of the metal to the IMF in the last 6 months, as well as countries that are known to own gold, but do not publicly disclose their holdings.
 
Most purchased
As usual, Russia is at the forefront of buying the precious metal, adding 15 tons of gold to its reserves in April 2019.
China went along the same lines as the White Bear countries with respect to gold reserves, buying 15 tons of precious metal the same month.
Both Russia and China have seen a shift in recent years to become one of the world's largest gold buyers since 2014, prompting both countries to place a clear position within the world's top 7 gold holders.
In third place, Uzbekistan, which added about 8 tons of gold to its central bank reserve gold.
 
Most possession
The list of gold miners has not seen strong changes as the International Monetary Fund remains on the top 10 list by the end of April 2019.
The United States remained at the top of the list of the world's largest mineral-holding countries with 8133.5 tonnes, accounting for about 74.6 percent of all reserves in its possession.
Germany was second with 3367.9 tons of gold or 69.9 percent of its global reserves, followed by the International Monetary Fund (IMF) with about 2,814 tonnes
 Metal.
The IMF is the only institution within the list of most gold-winning countries, which means it is excluded from the list of Dutch accession to the list.
Italy and France finished fourth and fifth places with 2451.8 tons and 2,436 tons of gold, accounting for 65.5 percent and 59.8 percent, respectively, of their total reserves.
Russia ranked sixth, followed by China, with total gold holdings rising to 2,183.4 tons and 1,900.4 tons respectively, which is equivalent to 18.3 percent and 2.5 percent of reserves.
Switzerland was in the eighth place with a gold holdings of 1,040 tons, or 5.3 percent of its total reserves, followed by Japan in ninth place with 765.2 tons of metal, accounting for 2.4 percent of its global reserves.
The last place on the top 10 list was one change, with India gaining 612.6 tons of gold or 6.1 percent of reserves
 World Countries.
India has overtaken the Netherlands, which is out of the list, with 612.5 tons of gold, which accounts for about 66 percent of its global reserves.
 
Arab countries
Saudi Arabia tops the list of the world's most powerful Arab countries with 323.1 tons of gold, or 2.7 percent of its total reserves, but still ranks 17th in the world.
Lebanon came first in the Arab world with 286.8 tons of gold, or 23.1 percent of its reserves, but fell to 20th place globally.
The third place in the Arab world was Algeria, but ranked No. 25 in the world, with 173.6 tons of gold or 8.6% of all its global reserves.
Libya ranked fourth and ranked No. 33 in the world to acquire 116.6 tons of metal, accounting for 6.2 percent of its reserves. 
Kuwait and Egypt, where Kuwait has 79 tons of gold or 7.9 percent of all reserves, are ranked sixth in the Arab world and 39th in the world.
Egypt, which ranked seventh in the Arab world, has 78.5 tons of gold or 7.5 percent of all its reserves, but occupies the ranking number 40 globally.
It comes in the number 8, 9 and 10 centers in the Arab region, followed by Qatar and Syria.
But Jordan ranked No. 49 globally with 43.5 tonnes of yellow metal, accounting for about 12.1 percent of its total global reserves.
Qatar ranked 53rd in comparison with global gold holdings of 37.5 tons, accounting for 4.6% of all reserves.
As for Syria, it was ranked 57th in the world, with 25.8 tons of gold equivalent to 6% of its global reserves.
The last five places in the list of Arab countries were Morocco, UAE, Tunisia, Bahrain and Yemen respectively, but globally they came in the number 59, 77, 81, 86 and 98, respectively.
Morocco has 22.1 tonnes of gold, or 3.8 percent of its reserves, and the UAE has 7.5 tonnes of gold, just 0.3 percent of its global reserves.
With regard to Tunisia's gold holdings, it reached 6.8 percent or 4.8 percent of the reserves, followed by Bahrain with 4.7 tons of the yellow metal representing 8.4 percent of the total reserves in its possession.
Yemen has the list of 1.6 tons of gold, about 1.3 percent of all its global reserves.
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The economics of gold… Trade of war and peace.

 

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Researcher Shatha Khalil
In the midst of tensions and crises, investors are accustomed to the fact that tension is directly and quickly reflected in gold and oil , the main drivers of the economies of the world. Gold prices rise in the war and during security and political tensions because of the high demand for it, being the safest haven to prevent waste of wealth , and sensitivity of gold towards war … and peace ” and fear of the negative consequences of the war.
Gold is a precious metal that has been known for thousands of years and can exist freely in nature or mixed with other elements. It is a bright and dense element, one of the most soft metals, and is found in the deposits of rivers and rocks.

Gold has been used for thousands of years in making coin, because gold is a highly valuable material and has been used in financial transactions for a long time.

Gold is widely used in the electronics industry because of its important properties such as its ability to deliver power efficiently and high corrosion resistance, making it ideal for low-voltage devices such as mobile phones, television and wires.

Gold is used in the manufacture of computers because of its excellent conductivity, and is used in dentistry, because it is inactive elements, and because of easy to deal with and the use of it for cosmetic fillings.
Gold retains its value because it affects monetary policy, and the global economy often relies on gold prices up and down.

Gold is one of the most famous metals used in jewelry, and has been used by women for decoration throughout the ages. It is manufactured and treated in the form of alloys, a mass of pure gold that melts to be processed in the form of different jewelry.
Gold is classified according to the caliber, and the caliber is calculated by the proportion of gold compared to the percentage of other metals that make up the ornaments, where the ratio of gold if the 24 caliber is high compared to gold 18-caliber, because the proportion of metals blended with gold is greater, so the price of gold grams of 24 more than the gold, 18 -caliber.
As a result of the sharp tensions between America and China, US President Donald Trump’s threat to increase tariffs on Chinese imports sparked trade tensions again between the two countries, prompting investors to seek safe haven assets, gold, which was directly reflected in rising gold prices to more than 1.5%, hitting its highest level in more than three months, amid fears that the global economy was hurt by trade tensions between the United States and China, and Washington’s threat to impose tariffs on Mexico.

The sudden rise of the price of gold rose records 0.1% to $ 1281.70 an ounce, and futures contracts fell 0.1% to $ 1282.70 an ounce, amid escalations on the front of the US-China trade war. These tensions have prompted traders to abandon high-risk assets such as equities, and currency purchases, against a basket of six major currencies, the dollar fell slightly to 97.71, although it is still up 1.6 percent since the beginning of the year.
According to data from the World Gold Council, based on data from the International Monetary Fund, the total reserves of the world amounted 33.87 thousand tons.
This figure represents the official reserves of central banks around the world, and the gold supply is not counted for commercial purposes in retail markets (jewelry).

This is the list of the most gold-winning countries that are led by the United States:
1. US Gold Reserve: 81333.5 tons.
The United States is the world’s largest gold holding, especially since the dollar is the world’s reserve currency for any country.
2. Germany: Gold reserves: 3395.5 tons.
Germany is likely to maintain its current asset base, with Germany as the locomotive of the economy in EU and Euro zone countries .
3. Italy: Gold reserves: 2451.8 tons, Italy is in a state of financial turmoil, and according to many measures Italy is one of the most vulnerable economies for the danger according to the rest of the euro zone countries.
4. France: Gold reserves: 2435.4 tons.
France finds itself in a good position. Former President Francois Hollande opposes many austerity measures taken by his predecessor, President Nicolas Sarkozy.
5. China: Gold reserves: 1054.1 tons.
It is true that the Chinese economy is facing a period of stagnation and the growth rate has fallen to 7.4%, but China is seeking to be the largest economy in the world.
6. Switzerland: Gold reserves: 1040.1 tons.
Switzerland is the most country with banks in the world, so it is naturally one of the most gold-holding countries.
7. Russia: Gold reserves: 936.7 tons.
Russia continues to buy gold, as it has an ambitious global economic growth.
8. Japan: Gold reserves: 655.2 tons.
Japan is one of the largest economies in the world.
9. Netherlands: Gold reserves: 612.5 tons.
It is not surprising to see that the Netherlands possesses huge amounts of gold, as it is worth mentioning that the Netherlands is a former colonial power and has a long history of wealth.
10. India: Gold reserves: 557.7 tons, while India ranks 11th in the world according to the list of the World Gold Council, it occupies tenth place excluding the International Monetary Fund.

In summary, gold has been and remains the appropriate investment tool to protect wealth. All developments have proved a constant inverse relationship between investing in gold, investing in stocks, and the longer the investment lasts, the more the reverse relationship becomes stronger , this is to confirm the importance of gold to face the fall of prices in global equities, and “inflation”, in turn, is a prime reason for investors to resort to gold being – the inflation – removes the real value of several types of property, so when investors feel the rise of inflation rates , they resort to gold because it has a fixed value, at the time the value of currencies are exposed to a certain decline , gold always maintained its value, and sometimes record a rise in the price, as it happened recently when the ceiling exceeded $ 400 per ounce, for the first time since the year 1991 in
light of the disruption of the European exchange mechanism.

Translated by : mudhaffar al-kusairi

Economic Studies Unit
Rawabet Center for Research and Strategic Studies

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Here are a few more economic facts on Iraq:

 

The Gross Domestic Product (GDP) in Iraq contracted 1 percent in 2018 from the previous year. GDP Annual Growth Rate in Iraq averaged 7.04 percent from 1991 until 2018, reaching an all time high of 54.16 percent in 2004 and a record low of -56.40 percent in 1991.

 

- Standard & Poor's credit rating for Iraq stands at B- with stable outlook. Moody's credit rating for Iraq was last set at Caa1 with stable outlook. Fitch's credit rating for Iraq was last reported at B- with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Iraq thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Iraq as reported by major credit rating agencies.

 

-  The benchmark interest rate in Iraq was last recorded at 4 percent. Interest Rate in Iraq averaged 6.84 percent from 2004 until 2019, reaching an all time high of 20 percent in December of 2007 and a record low of 4 percent in March of 2016.

 

- Gold Reserves in Iraq remained unchanged at 96.30 Tonnes in the second quarter of 2019 from 96.30 Tonnes in the first quarter of 2019. Gold Reserves in Iraq averaged 30.17 Tonnes from 2000 until 2019, reaching an all time high of 96.30 Tonnes in the fourth quarter of 2018 and a record low of 0 Tonnes in the second quarter of 2000.

 

 Deposit Interest Rate in Iraq decreased to 4.78 percent in 2016 from 4.86 percent in 2015. Deposit Interest Rate in Iraq averaged 6.80 percent from 2004 until 2016, reaching an all time high of 10.54 percent in 2008 and a record low of 4.78 percent in 2016.

 

Employment Rate in Iraq decreased to 28.20 percent in 2018 from 43.20 percent in 2016. Employment Rate in Iraq averaged 44.06 percent from 2003 until 2018, reaching an all time high of 49.72 percent in 2006 and a record low of 28.20 percent in 2018.

 

-  Money Supply M0 in Iraq increased to 63359 IQD Billion in March from 61999 IQD Billion in February of 2019. Money Supply M0 in Iraq averaged 44900.49 IQD Billion from 2003 until 2019, reaching an all time high of 73259 IQD Billion in December of 2013 and a record low of 6708 IQD Billion in December of 2003.

 

Money Supply M2 in Iraq increased to 91724 IQD Billion in February from 91691 IQD Billion in January of 2019. Money Supply M2 in Iraq averaged 54582.68 IQD Billion from 2003 until 2019, reaching an all time high of 93699 IQD Billion in December of 2018 and a record low of 6953 IQD Billion in December of 2003.

 

Money Supply M1 in Iraq decreased to 71827 IQD Billion in February from 71856 IQD Billion in January of 2019. Money Supply M1 in Iraq averaged 44739.39 IQD Billion from 2003 until 2019, reaching an all time high of 74504 IQD Billion in January of 2014 and a record low of 5774 IQD Billion in December of 2003.

 

Crude Oil Production in Iraq remained unchanged at 4500 BBL/D/1K in April from 4500 BBL/D/1K in March of 2019. Crude Oil Production in Iraq averaged 2135.44 BBL/D/1K from 1973 until 2019, reaching an all time high of 4830 BBL/D/1K in December of 2016 and a record low of 0 BBL/D/1K in February of 1991.

 

Industrial Production in Iraq increased 0.80 percent in the fourth quarter of 2018 over the same quarter in the previous year. Industrial Production in Iraq averaged 4.39 percent from 1999 until 2018, reaching an all time high of 49.37 percent in the second quarter of 2009 and a record low of -28.60 percent in the fourth quarter of 2003.

 

Crude Oil Rigs in Iraq remained unchanged at 67 in March from 67 in February of 2019. Crude Oil Rigs in Iraq averaged 42.76 from 2009 until 2019, reaching an all time high of 96 in June of 2014 and a record low of 0 in June of 2009.

 

The inflation rate in Iraq was recorded at 0.70 percent in March of 2019. Inflation Rate in Iraq averaged 10.11 percent from 2005 until 2019, reaching an all time high of 76.55 percent in August of 2006 and a record low of -6.37 percent in October of 2009.

 

Cost of food in Iraq increased 0.60 percent in March of 2019 over the same month in the previous year. Food Inflation in Iraq averaged 1.01 percent from 2011 until 2019, reaching an all time high of 13.27 percent in April of 2012 and a record low of -7.19 percent in January of 2015

 

Military Expenditure in Iraq decreased to 6200 USD Million in 2018 from 7416 USD Million in 2017. Military Expenditure in Iraq averaged 5051.20 USD Million from 2004 until 2018, reaching an all time high of 9536 USD Million in 2015 and a record low of 2037 USD Million in 2006.

 

CPI Housing Utilities in Iraq decreased to 114.10 Index Points in March from 114.70 Index Points in February of 2019. CPI Housing Utilities in Iraq averaged 114.65 Index Points from 2015 until 2019, reaching an all time high of 120.20 Index Points in September of 2017 and a record low of 109.50 Index Points in May of 2015

 

The transportation sub-index of the CPI basket in Iraq remained unchanged at 98.20 Index Points in March of 2019 from 98.20 Index Points in February of 2019. CPI Transportation in Iraq averaged 96.31 Index Points from 2015 until 2019, reaching an all time high of 102 Index Points in May of 2018 and a record low of 94.50 Index Points in April of 2016.

 

Consumer Price Index CPI in Iraq decreased to 104.40 Index Points in March from 104.90 Index Points in February of 2019. Consumer Price Index CPI in Iraq averaged 100.12 Index Points from 2009 until 2019, reaching an all time high of 107.40 Index Points in November of 2014 and a record low of 86.50 Index Points in March of 2009.

 

- Core consumer prices in Iraq increased 0.60 percent in March of 2019 over the same month in the previous year. Core Inflation Rate in Iraq averaged 8.19 percent from 2000 until 2019, reaching an all time high of 107.04 percent in July of 2004 and a record low of -2.10 percent in January of 2016.

 

- Core Consumer Prices in Iraq decreased to 105.10 Index Points in March from 105.20 Index Points in February of 2019. Core Consumer Prices in Iraq averaged 104.90 Index Points from 2016 until 2019, reaching an all time high of 106.50 Index Points in July of 2018 and a record low of 103.70 Index Points in November of 2016.

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 Arab and international


Economy News _ Baghdad

The World Gold Council announced that the amount of gold reserves in the world amounted to more than 34 thousand tons, while pointing out that there are 13 Arab countries among the 100 countries to the possession of these reserves. 
"The gold reserves of the European countries (including the European Central Bank), including the European Central Bank, reached 10.778 tons," the council said in a new statistical report in June.

The Council added that "13 Arab countries out of the 100 countries listed in the international financial statistics of the global gold reserves," noting that "Saudi Arabia comes in the forefront of the Arab countries and ranked 17th in the world and a reserve of 323 tons, followed by Lebanon, which ranks 20th in the world and a reserve of 286 Ton, followed by Algeria, which ranks 25th in the world and a reserve of 173 tons.

He added that "Libya ranked 33rd in the world with reserves of 116 tons, followed by Iraq ranked 38th in the world with a reserve of 96.3 tons, followed by Kuwait ranked 39th globally in 79 tons, followed by Egypt, which ranked 40th and 78.6 tons." With 43.5 tons in reserve and Qatar with 53.5 tons, followed by Syria at 57 and a reserve of 35.8 tons.

He pointed out that "Tunisia ranked 81 in the world with a reserve amount of 6.8 tons, followed by Bahrain ranked 86 and a reserve of 4.7 tons, followed by Yemen at 98 and a reserve of 1.6 tons."

The World Gold Council, based in the United Kingdom, has extensive experience and deep knowledge of the drivers of market change and its members are among the world's largest and most advanced gold mining companies.


Views 30   Date Added 13/06/2019

 
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  • yota691 changed the title to Iraq ranks 38th in the world and fifth in the largest gold reserves of the month of July
 
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Iraq has maintained its 38th position globally and the fifth largest Arab reserves of gold for the month of July, noting that the United States remains the world's largest reserves of gold.

Iraq maintained its 38th position in the world's largest gold reserves for the month of July out of the 100 countries listed in the international financial statistics of the global gold reserves, which amounted to 96.3 tons, which is 6.2 % Of the rest of his other currencies. "
 
 
The Council added that " Iraq also maintained fifth place in the Arab countries, which came after Saudi Arabia, Lebanon , Algeria and Libya ," noting that "the last purchase of Iraq from gold was in September of 2018 and the amount of 6.5 tons." 

"The United States is still the world's largest reserve of gold with 8.133 tons, followed by Germany with 3.367 tons, followed by the International Monetary Fund with reserves of 2.814 tons, followed by Italy with 2.451 tons," he said.
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  • yota691 changed the title to 5 Arab countries including Iraq in the list of the largest gold reserves in the world
 
Follow-up / tomorrow Press:
Iraq has maintained its 38th position globally and the fifth largest Arab reserves of gold for July, according to the World Gold Council announced on Wednesday. 

The United States maintained its position as the world's largest gold reserves.


"Iraq maintained its 38th position in the world's largest gold reserves for July from 100 countries listed in the international financial statistics of the world's gold reserves, which amounted to 96.3 tons, representing 6.2% of the rest of his other currencies," the Council said in a statistical report, . 
The Council added that "Iraq also maintained fifth place in the Arab world after Saudi Arabia, Lebanon, Algeria and Libya," noting that "the last purchase of Iraq from gold was in September of 2018 and the amount of 6.5 tons." 

"The United States still holds the world's most gold reserves at 8.133 tons, followed by Germany with 3.367 tons, followed by the International Monetary Fund with reserves of 2.814 tons, followed by Italy by 2.451 tons." 

France came in fifth place followed by Russia and China.
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Survey: Central banks will continue to buy gold

Survey: Central banks will continue to buy gold

 19 July 2019 07:48 PM
From: Sally Ismail

Mubasher: Strong central bank demand for gold is expected to continue in the short and medium term, a trend that has seen strong momentum recently .

According to a survey conducted by the World Gold Council, in collaboration with research firm "Yogov," on Thursday, 54 percent of global central banks expect to increase gold reserves in thenext 12 months.

While all respondents from both developed and developing markets excluded gold reserves for a year to come by "zero" percent.

While 38 percent of central banks see gold reserves as unchanged in the next 12 months and 8 percent as "we do not know".

 
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 Arab and international


Economy News _ Baghdad

Gold prices settled on Tuesday near their highest level in six years as investors took refuge in safe haven after the United States classified China as a currency manipulator, triggering a protracted trade war between the world's two largest economies.

By 0543 GMT, spot gold fell 0.1 percent to $ 1461.51 an ounce, after hitting its highest since May 2013 at $ 1474.81 earlier in the session.

Gold futures fell 0.1 percent to $ 1474.40 an ounce.

US Treasury Secretary Stephen Menuchin said on Monday the government had decided to consider China manipulative in its currency and would engage the International Monetary Fund (IMF) to eliminate unfair competition from Beijing's latest moves.

The move came after China allowed its yuan to drop below the important 7-yuan level against the dollar for the first time in more than a decade after Washington's decision to impose a 10 percent tariff on imports from China worth $ 300 billion, ending a month- Between them.

The drop in the dollar index to a two-week low also helped support the yellow metal, while the longest-term US Treasury yields recorded the longest decline in 14 months.

For other precious metals, silver settled at $ 16.39 an ounce, while platinum rose 0.2 percent to $ 854.85.


Views 19   Date Added 08/06/2019

 
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  • yota691 changed the title to Gold price in Iraq

Gold price in Iraq

Economy | 02:22 - 07/08/2019

 
image
 
 

BAGHDAD - The balance of News 
World Gold prices continue to rise to record a new record now in the global stock market as a result of high frequency demand for safe havens due to global tensions .. 
global stock ounce 
1,490.00 $ 
price whit gold in Iraq , the Iraqi dinar 
caliber 24 
250.000 
21 carat 
285.500 .anthy 29 /s

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  • yota691 changed the title to World Gold: Iraq fifth Arab and 38 globally the largest gold reserves
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The World Gold Council said on Monday that Iraq has maintained its fifth position in the Arab world and 38 globally with the largest gold reserves, indicating that five countries account for more than half of the global gold reserves.

The Council said in a statistical published on its website during the month of August and seen by Alsumaria News, " Iraq maintained its fifth position in the Arab world, and came after each of Saudi Arabia, Lebanon , Algeria and Libya ," noting that "the last purchase of gold from Iraq was in September From 2018 and by 6.5 tons. "
 


The Council added that " Iraq has also maintained 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, representing 6.7% of the rest of its currencies." 

He added that "five countries (destinations) globally accounted for the world's most gold reserves, namely the United States, Germany , the International Monetary Fund , Italyand France , where the reserves of these countries amounted to 19.648 tons of 34.076 tons for 100 countries included in the international financial statistics." He pointed out that "the United States ranked first with these reserves by 8.133 tons."


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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  • yota691 changed the title to How much is Iraq's share of world gold?
 
 
 2019/08/14 06:40:50
 

The World Gold Council data showed that the world's reserves of precious metal amounted to 34.076 thousand tons in August, the euro area accounted for 55.8% of them.

According to the data, the Arab countries combined have 1292.9 tons of gold, which represents 3.79% of the total reserves of the countries of the world.

The data shows that Saudi Arabia topped the Arab countries with gold reserves, which amounted to 323.1 tons, which secured 17th place globally. The Kingdom's gold reserves constitute 0.94% of the world reserves.

Lebanon ranked second with reserves of 286.8 tons (0.84% of the world reserves), followed by Algeria with 173.6 tons (0.50% of the world reserves), and Libya with 116.6 tons (0.34% of the world reserves). Iraq has 96.3 tons (0.28% of the world reserves).

Gold prices have been rising recently as a safe haven, amid a raging trade war between China and the United States, which has overshadowed the growth of the global economy.

Since the beginning of this year, the price of gold has risen from 1281.3 dollars to be traded now at 1513 dollars.

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Learn about Iraq's share of world gold

Political | 02:16 - 14/08/2019

 
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BAGHDAD balances News 
World Gold Council data showed that the world 's reserves of the precious metal reached in August 34.076 thousand tons, acquired the euro area 55.8% of them. 
According to the data, the Arab countries combined have 1292.9 tons of gold, which represents 3.79% of the total reserves of the countries of the world. 
The data shows that Saudi Arabia topped the Arab countries with gold reserves, which amounted to 323.1 tons, which secured 17th place globally. The Kingdom's gold reserves constitute 0.94% of the world reserves. 
Lebanon ranked second with reserves of 286.8 tons (0.84% of the world reserves), followed by Algeria with 173.6 tons (0.50% of the world reserves), and Libya with 116.6 tons (0.34% of the world reserves). Iraq has 96.3 tons (0.28% of the world reserves).
Gold prices have been rising recently as a safe haven, amid a raging trade war between China and the United States, which has overshadowed the growth of the global economy. 
Since the beginning of this year, the price of gold has risen from 1281.3 dollars to be traded now at 1513 dollars.

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Report central banks are expected to continue to increase gold purchases in the coming years

Report central banks are expected to continue to increase gold purchases in the coming years

 27 August 2019 11:39 AM
Mubasher : Central banks are expected to continue buying gold over the coming years, amid expectations that some countries will increase purchases such as China.

In a current environment where uncertainty in emerging-market currencies is high, there is a good reason for countries such as Russia, Turkey, Kazakhstan and China to continue to diversify their portfolios, Bloomberg said.

The report added: "Net purchases are likely to remain the highest level of 650 tons this year."

The total net purchases of gold by central banks in the first six months of this year , 374.1 tons, and the longer it is the highest level since the banks have become net buyers in 2010.

Nine central banks raised their purchases of gold by at least one ton in the first half of this year.

With slower growth and rising trade and geopolitical tensions, and some countries seeking to diversify their portfolios away from the dollar, the central bank has increased gold purchases, the report said.

According to the report, official purchases of gold currently amount to about 10 percent of global consumption.

He continued: "The Chinese central bank has 1936 tons of gold equivalent to 3 percent of its total holdings of foreign reserves, which gives the country an abundance of space to increase its allocations."

 
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  • yota691 changed the title to Gold reserves

Gold reserves

Friday 06 September 2019 51

Gold reserves

 
سعد الطائي Free Membership
 
The precious metal (gold) is one of the most important wealth that people are keen to acquire and retain throughout the history of humanity and for thousands of years, and the importance of gold, as one of the important wealth of States to this day, and is expected to continue its importance for long periods to come.
It is known that all the central banks in the various countries of the world rely on gold, the dollar and the euro as well as a basket of other currencies as reserves, but the economic crises experienced by the global economy over the past periods of time proved that gold is a stable value and a safe haven largely compared to currencies.
In light of the current economic fluctuations caused by the US-China trade war, amid signs of a currency war that could prolong further depleting its value, the dollar is losing its dominant position in the global economy due to the transfer of the economy. China, led by the US, is approaching becoming the world's first economy.
From this summary presentation we can conclude that the dollar and the rest of the world currencies are no longer a safe haven for the reserves of the global central banks, unlike gold, which has proven to be a constant value, but rising over the years. The dollar as a reserve due to the vibrations that have been exposed to its value and what will be exposed to it in the future.
Recent data indicate that many central banks in various countries of the world began to increase their reserves of gold and the lack of excessive dependence on the dollar, which made its prices rise due to the appetite for buying it. Hence, the investment of the Central Bank of Iraq in gold is a guaranteed gain and puts these reserves in the safety box as it is a safe haven, and at the same time prefer to reduce dependence on the dollar as a reserve of guaranteed value as was the case in previous periods after the forefront of foreign currencies globally, which is He began to lose this status that lasted for decades.
This is in line with the estimates of many sober financial institutions recently that the dollar has lost its global status as the world's first hard currency compared to other currencies.
Therefore, it is a pressing priority at the present time that Iraq is working to increase its investment of gold as much as possible, in order to keep pace with the changes in the field of safer reserves, which are heading to the yellow metal, which has long been and remains a safe haven in economic and financial crises and volatility across Time.
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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 to 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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  • yota691 changed the title to Baghdad maintains its global position with the largest reserves of gold

Baghdad maintains its global position with the largest reserves of gold

By ahad5 08/10/2019 12:13 PM | Number Of Hits: 1797

Baghdad maintains its global position with the largest reserves of gold

Al-Ahd News- Continue

The World Gold Council announced on Tuesday that Iraq has maintained its global position with the largest reserves of gold, which represents 7% of the rest of its currencies.

The council said in a statistic published on its website during the month of October, that "Iraq maintained its fifth position in the Arab world, which came after each of Saudi Arabia, Lebanon, Algeria and Libya," noting that the last purchase of Iraq was in September of 2018 and the amount of 6.5 tons".

 The Council added that "Iraq has also maintained its position 38 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 7% of the rest of its currencies".

 The Council noted that "five countries have acquired the world's largest gold reserves, namely the United States, Germany, Italy and France, where the reserves of these countries amounted to 16,386 tons out of 34,392 tons for 100 countries included in international financial statistics," noting that "the United States ranked first These reserves amount to 8.133 tons. "

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Tuesday, October 8, 2019 11:58 AM
The number of readings: 60

irq_731977815_1570525121.jpg&max_width=300

 


BAGHDAD / ... The World Gold Council announced on Tuesday that Iraq has maintained its global position with the largest reserves of gold, which represents 7% of the rest of its currencies.

The council said in a statistics published on its website during the month of October, that "Iraq has maintained its fifth position in the Arab world, which came after each of Saudi Arabia, Lebanon, Algeria and Libya," noting that the last purchase of Iraq was in September of 2018 and the amount of 6.5 tons.
 
The Council added that "Iraq has also maintained 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 7% of the rest of its currencies.
 
" The world's most gold reserves are the United States, Germany and Italy France, where reserves of these countries amounted to 16.386 tons , out of 34.392 tons for 100 countries listed in the international financial statistics , "noting that" the United States ranked first such reserves by 8.133 tons. "
 
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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  • yota691 changed the title to World Gold Council: Iraq ended 2019 without buying anything from it

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