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Global Gold: Central banks buy 142 tons of gold, and Iraq ranks 30


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Gold reserves in Iraq's vaults are more than 96 tons
 

Baghdad - people  

On Thursday, the Central Bank of Iraq disclosed the size of the gold reserves in Iraq, among its global ranking.  

  

  

And the Deputy Governor of the Central Bank, Ihsan Shamran, stated, in a statement to the official agency, followed by “Nass” (March 17, 2022), that “the gold reserves in Iraq amount to 96.4 tons,” noting that “Iraq is located in the international gold reserve arrangement in sequence 37.”  

  

It is noteworthy that the World Gold Council, last January, published its report on the reserves of the central banks in the world of gold, and the data showed that the reserves amounted to 35571.3 tons of the metal.  

  

According to the data, total reserves increased by 11 tons in the January 2022 report, compared to December 2021.  

  

The United States leads the world in reserves of the precious metal, followed by Germany, then Italy, then France, and then Russia, while Saudi Arabia came at the fore in the Arab countries with gold reserves, as the Kingdom owns 323.1 tons of the precious metal, according to the first report This year's World Gold Council.  

  

Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.  

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 2022-03-17 12:40
 

 

Shafaq News / The Central Bank of Iraq revealed, on Thursday, the size of Iraq's gold reserves, while determining the country's ranking globally.

The Deputy Governor of the Bank, Ihsan Shamran, stated, in a statement to the official agency, that "the gold reserves in Iraq amount to 96.4 tons," noting that "Iraq is ranked 37th in the world's gold reserves."

Gold is highly sensitive to rising US interest rates, which increases the opportunity cost of holding unprofitable bullion.

The value of gold fell around the world on Wednesday, as investors awaited the US Federal Reserve meeting.

Spot gold changed little at $1,916.86 an ounce, after touching the lowest level since March 1, at $1,906 yesterday.

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  • Time: 03/25/2022 15:49:09
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In numbers.. the largest countries in the world with gold reserves
  
{Economic: Al Furat News} World Gold Council data for the month of March showed that the world's central banks' reserves of gold amounted to 35,536.8 tons.

Compared to last January's report, central bank reserves around the world decreased by 34.5 tons, as reserves were in January at 35571.3 tons of the metal.

The United States leads the world in precious metal reserves, with 8,133.5 tons, followed by Germany (3,359.1 tons), then Italy (2451.8 tons), France (2436.4 tons), and then Russia (2298.5 tons).

As for the Arab world, Saudi Arabia leads the Arab countries with gold reserves, as the Kingdom owns 323.1 tons of the precious metal, followed by Lebanon 286.8 tons, and then Algeria 173.6 tons.

Gold is considered a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation, and in the past years, the prices of the precious metal have risen.

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 2022-04-10 03:32
 

Shafaq News/ Today, Sunday, the World Gold Council announced a decline in the world's gold reserves after the central banks of countries sold quantities of it within one month, indicating that Iraq has not provided any update on its gold possession since last October.

The council said in its latest schedule for the month of April of 2022, which was seen by Shafak News Agency; "The world's gold reserves declined by 6 tons as a result of the central banks selling quantities of it," noting that "Uzbekistan is the largest seller in the month, as it reduced its gold reserves by 22 tons to 339 tons, and Kazakhstan sold 5 tons, Qatar also sold 6 tons and Mongolia 1 ton and Germany 1 ton". 

He added, "Turkey dominated net purchases, adding 25 tons to its gold reserves, India buying 2.6 tons during the month, while Ireland, the only active buyer in the developed market, added 1 tons of gold to its reserves."

He pointed out that "Iraq has not provided any update on its gold holdings since October 2021, but it maintained its global position 39 out of the 100 countries listed in the table with the largest gold reserves, bringing its gold holdings to 96.4 tons, which represents 9.3% of the rest of its other reserves."

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 Market


Economy News - Baghdad

Today, Sunday, the World Gold Council announced a decline in the world’s reserves of the metal after the central banks of countries sold quantities of it within one month, indicating that Iraq had not provided any update on its gold holdings since last October.

 

The council said in its latest schedule for the month of April 2022 that “the world’s gold reserves decreased by 6 tons as a result of the central banks selling quantities of it,” explaining that “Uzbekistan is the largest seller in the month, as it reduced its gold reserves by 22 tons to 339 tons, and sold Kazakhstan 5 tons, Qatar 6 tons, Mongolia 1 tons and Germany 1 tons.

 

He added, "Turkey dominated net purchases, adding 25 tons to its gold reserves, India buying 2.6 tons during the month, while Ireland, the only active buyer in the developed market, added 1 tons of gold to its reserves."

 

He pointed out that "Iraq has not provided any update on its gold holdings since October 2021, but it maintained its global position 39 out of the 100 countries listed in the table with the largest gold reserves, bringing its gold holdings to 96.4 tons, which represents 9.3% of the rest of its other reserves."

 
 
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 2022-05-04 04:24
 

Shafaq News/ The World Gold Council announced on Wednesday that Iraq has fallen one rank in the world's largest reserves of the precious metal after the Egyptian Bank purchased large quantities of gold to surpass Iraq and some countries in its global ranking.

In May 2022, the council said to its latest schedule for the month of March, which was seen by Shafaq News Agency, that "Iraq has fallen one rank to reach 40th globally out of the 100 countries listed in the table with the largest gold reserves," noting that "the Central Bank of Egypt bought a quantity of approximately 44 tons of gold in February to raise its gold reserves to 125 tons, thus surpassing several countries and reaching the 33rd place after it was 41st.

He pointed out that "Iraq has still not provided any update on its gold holdings since October 2021, bringing its gold holdings to 96.4 tons, which represents 9.4% of the rest of its other reserves."

According to the council, “the gold reserves of the World Central Bank decreased by 4 tons in March as a result of the central banks selling quantities of it,” noting that “Kazakhstan was the largest seller in the month, as it reduced its gold reserves by 12 tons, and Uzbekistan sold one ton, in When Turkey controlled purchases, it added 5 tons to its gold reserves, while India bought 2.5 tons and Ireland added one ton.

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

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Iraqi Gold Association

Thursday 26 May 2022 37Iraqi Gold Association

 
 Abdul-Zahra Muhammad Al-Hindawi
 
No two disagree that gold was, is, and will remain an important element in trade balance operations, and a soft cover for financial and banking transactions, just as this resonant yellow metal will remain a dream that flirts with the imaginations of virgins and women around the world.
For all this, the gold trade around the world witnessed a great boom, and some economic cities began to turn into active centers for international stock exchanges, including Dubai, for example, which includes one of the largest centers for gold purification and trade in the region, as this center deals with 25% of the volume Globally traded gold, which amounts to more than 170,000 tons, and for this importance, many countries have witnessed the establishment of centers, associations and federations that undertake the operations of regulating gold trade and circulation, and protecting workers in this field. 
In Iraq, which ranks 38th among the 100 countries with the highest reserves in the world, gold is “a decoration and a treasury” and with it the proverb is set in high prices, scarcity and importance of things. He buys gold for her with “such” a million or even a billion dinars, and gold represents a barometer to measure many indicators, as it is linked to inflation and foreign currency reserves, as well as measuring the standard of living of the individual.
But on the other hand, what is remarkable is that the goldsmiths, who represent an important economic segment, have no authority to organize their affairs, defend them, and demand their rights, as they are exposed to many problems, challenges, obstructions, and attacks, but no one adopts their cases, unlike other activities, for journalists Writers, poets, writers, photographers, nurses, lawyers, engineers, doctors, pharmacists, teachers, farmers, workers, contractors, merchants, industrialists, beekeepers, dyers, carpenters, blacksmiths, shearers, carpenters, businessmen, owners of hotels, restaurants and mills, their unions, associations, unions, and councils that support them goldsmiths, and still guarantee them the rights of goldsmiths. Divorce without any professional organization for them, and we do not know why the Iraqi goldsmiths did not take the initiative to establish an association or union for them until now.
In the news, the Minister of Planning talks about the ministry’s endeavor to form an association that deals with the affairs of this important segment, and in my estimation, that this endeavor represents an appropriate opportunity for goldsmiths to invest in the establishment of the Iraqi Association of Goldsmiths, or any other name, and that this association be joined to the Private Sector Development Council, Just like the rest of the economic activities that joined this council.
And I think, that the next step should be for the Ministry of Planning, as the agency concerned with the care and development of the private sector in all its activities, to invite Iraqi goldsmiths to meet, under the auspices of the Central Organization for Standardization and Quality Control, which is in charge of regulating the drafting profession in Iraq, in terms of granting licenses Practicing the profession, and marking the jewellery. The step may be late in calling for the establishment of this association, but if it comes too late, Better than never coming, isn't it like that?
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  • Time: 06/08/2022 11:25:27
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Iraq's ranking globally in gold reserves
  
{Economic: Al Furat News} The World Gold Council announced, on Wednesday, that Iraq has maintained its global position, indicating that its gold reserves represent 9.2% of the rest of its other reserves.

In its latest schedule for the month of April 2022, the council said that "the world's gold reserves rose by 19.4 tons as a result of the central banks buying quantities of it," noting that "the bulk of the rise resulted from purchases from Uzbekistan (8.7 tons), while Turkey continued to buy by (5.6) tons, and Kazakhstan bought (5.3 tons).

He added, "Germany sold 0.9 tons of gold.

He pointed out that "Iraq maintained its global position 40 out of the 100 countries listed in the table with the largest gold reserves, after it fell one rank during the past month, bringing its gold holdings to 96.4 tons, which represents 9.2% of the rest of its other reserves."

He pointed out that "the United States still leads the rest of the countries with the largest possession of gold in the world, at 8,133 thousand tons, followed by Germany, 3,357 thousand tons, and then Italy 2,451 thousand tons, while El Salvador ranked 100, with 1.4 tons, preceded by Suriname with 1.5 tons."

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

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 2022-06-08 04:09
 

Shafaq News/ The World Gold Council announced, on Wednesday, that Iraq has maintained its global position, indicating that its gold reserves represent 9.2% of the rest of its other reserves.

The council said in its latest schedule for the month of April of 2022, which was seen by Shafak News Agency, that "the global reserves of gold increased by 19.4 tons as a result of the central banks buying quantities of it," noting that "the bulk of the rise resulted from purchases from Uzbekistan (8.7 tons). While Turkey continued to buy (5.6) tons, and Kazakhstan bought (5.3 tons).

He added, "Germany sold 0.9 tons of gold.

He pointed out that "Iraq maintained its global position 40 out of the 100 countries listed in the table with the largest gold reserves, after it fell one rank during the past month, bringing its gold holdings to 96.4 tons, which represents 9.2% of the rest of its other reserves."

He pointed out that "the United States still leads the rest of the countries with the largest possession of gold in the world, at 8,133 thousand tons, followed by Germany, 3,357 thousand tons, and then Italy 2,451 thousand tons, while El Salvador ranked 100, with 1.4 tons, preceded by Suriname with 1.5 tons."

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

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Market
   

Economy News _ Baghdad

The World Gold Council announced, on Wednesday, that Iraq has maintained its global position, indicating that its gold reserves represent 9.2% of the rest of its other reserves.

The council said in its latest schedule for the month of April of 2022, which was reviewed by "Economy News", that "the global gold reserves rose by 19.4 tons as a result of the central banks buying quantities of it," noting that "the bulk of the rise resulted from purchases from Uzbekistan (8.7 tons). tons), while Turkey continued to buy by (5.6) tons, and Kazakhstan bought (5.3 tons).

He added, "Germany sold 0.9 tons of gold.

He pointed out that "Iraq maintained its global position 40 out of the 100 countries listed in the table with the largest gold reserves, after it fell one rank during the past month, bringing its gold holdings to 96.4 tons, which represents 9.2% of the rest of its other reserves."

He pointed out that "the United States still leads the rest of the countries with the largest possession of gold in the world, at 8,133 thousand tons, followed by Germany, 3,357 thousand tons, and then Italy 2,451 thousand tons, while El Salvador ranked 100, with 1.4 tons, preceded by Suriname with 1.5 tons."

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

 
 

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Update 06/08/2022 - 5:24 PM
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  • Time: 07/01/2022 13:35:36
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Including Iraq..discovering Arab countries' gold reserves
  
{Economic: Al Furat News} The World Gold Council published its report for the month of June 2022 on the reserves of the central banks in the world of gold, and the data showed that the reserves amounted to 35568.40 tons of the metal.

Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.

In the Arab world, Saudi Arabia leads the Arab countries in gold reserves, as the Kingdom owns 323.1 tons of the precious metal, according to a report by the World Gold Council.

In second place comes Lebanon, with reserves of 286.8 tons, and then Algeria, with reserves of 173.8 tons.

With regard to the share of gold in the international reserves of Arab countries, the data shows that Lebanon leads the Arab countries in this indicator, as the precious metal constitutes about 50.7% of the total value of its reserves, in the second place comes Egypt, and gold constitutes about 21.8% of its international reserves.

The following is a table showing the ranking of the Arab countries in gold reserves, and the share of gold in the reserves of these countries, based on the World Gold Council report for the month of June 2022:

6e67691b60ed3e4a55935261314dd534.jpg

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Alsumaria News - Baghdad
The World Gold Council published its report for the month of June 2022 of the reserves of the central banks in the world of gold, and the data showed that the reserves amounted to 35568.40 tons of the metal.

Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.

In the Arab world, Saudi Arabia leads the Arab countries in gold reserves, as the Kingdom owns 323.1 tons of the precious metal, according to a report by the World Gold Council.
 

In second place comes Lebanon, with reserves of 286.8 tons, and then Algeria, with reserves of 173.8 tons.

In fourth place comes Egypt, with reserves of 125.0, followed by Libya in fifth place, with reserves of 116.6.

Iraq ranked sixth with gold reserves of 96.4 tons, according to the table published by the World Gold Council, below:
 
 
 
 
ExtImage-7407221-1342979840.jpg
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 2022-07-10 05:14
 

Shafaq News/ The World Gold Council announced, on Sunday, that Iraq's reserves of the yellow metal remained stable during the month of May, indicating that its reserves of this precious metal amounted to 8.8% of the rest of its other reserves.

In its latest schedule for the month of May 2022, which was seen by Shafak News Agency, the council said that "the global central banks added 35 net tons to global gold reserves, which is the second consecutive month of net purchase," noting that "the bulk of the rise is caused by purchases of gold. From Turkey (13) tons, while Uzbekistan continued to buy (9) tons, Kazakhstan bought (6) tons, Qatar (5) tons, and India (4) tons.

He added, "Germany was the only seller this month, as it sold two tons of gold."

He pointed out that "this month, Iraq maintained its 40th global position out of the 100 countries listed in the table with the largest gold reserves, reaching 96.4 tons of gold, which represents 8.8% of the rest of its other reserves."

The council stated that "the United States still sits on the throne of the world's most gold-possessing countries, with 8,133 thousand tons, followed by Germany, 3,355 thousand tons, then Italy 2,451 thousand tons, while Mauritania ranked 100, with 1 tons, preceded by El Salvador with 1.4 tons."

On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

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money and business
   

Economy News - Baghdad
The World Gold Council announced, on Sunday, that Iraq's reserves of the yellow metal remained stable during the month of May, indicating that Iraq maintained its position 40 globally out of the 100 countries listed in the table with the largest reserves of gold.

In its latest schedule for the month of May 2022, the council said that "global central banks added 35 net tons to global gold reserves, which is the second consecutive month of net purchases," noting that "the bulk of the rise is due to purchases from Turkey (13 ) tons, while Uzbekistan continued to buy (9) tons, Kazakhstan bought (6) tons, Qatar (5) tons, and India (4) tons.

He added, "Germany was the only seller this month, as it sold two tons of gold."

He pointed out that "this month, Iraq maintained its 40th global position out of the 100 countries listed in the table with the largest gold reserves, reaching 96.4 tons of gold, which represents 8.8% of the rest of its other reserves."

The council stated that "the United States still sits on the throne of the world's most gold-possessing countries, with 8,133 thousand tons, followed by Germany, 3,355 thousand tons, then Italy 2,451 thousand tons, while Mauritania ranked 100, with 1 tons, preceded by El Salvador with 1.4 tons."

 
 

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money and business
   

Economy News-Translation
Central banks globally added 59 tons of gold to their reserves last month and no sales were reported, according to the latest data compiled by the World Gold Council.

The Central Bank of Iraq has become the latest bank to add a significant amount of gold to its gold reserves this year. The Iraqi Bank bought 34 tons of gold. This is the first increase in gold reserves by the Central Bank of Iraq since it purchased 7 tons in 2018. The Bank of Iraq now owns 130 tons of gold.

Uzbekistan continued its gold buying spree, buying another 8.7 tons. It has added nearly 9 tons of gold to its reserves in each of the past three months. Gold reserves represent just over 60% of Uzbekistan's total reserves.

Turkey has also been adding gold to its reserves constantly. Last month, the Turkish bank added 7.7 tons of gold to its holdings. Turkey's central bank added 37 tons of gold to its holdings in the first quarter of this year alone. It now owns more than 455 tons of gold, which is approximately 30% of its reserve assets.

In June, the Central Bank of Kazakhstan increased its gold holdings by 4.2 tons. This was the third consecutive month of purchases after several consecutive months of sales earlier in the year and back to 2021.

India bought 3.7 tons of gold last month. Since resuming buying in late 2017, the Reserve Bank of India has bought more than 200 tons of gold. In August 2020, there were reports that the Reserve Bank of India was considering increasing its gold reserves significantly.

 
 
 

 


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Added 08/04/2022 - 10:25 AM
Update 08/04/2022 - 5:04 PM
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  • Time: 08/04/2022 20:32:37
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An economist explains why the Central Bank of Iraq wanted to buy gold
  
{Economic: Al Furat News} The economic expert, Duraid Al-Anzi, explained, today, Thursday, the reason for the desire of the Central Bank of Iraq to buy gold.
 

Al-Enezi said (to Euphrates News) that: "The global economic situation is fluctuating, as dollar prices are falling and reflected in the decline in gold prices, as well as the euro has declined historically, and oil prices today have clearly fallen."
He added, "Gold is not infallible from the decline in its prices, and it is not excluded from its impact on the global market," justifying the reason for the Iraqi Central Bank's purchase of gold quantities "to be the first in the world to buy gold as a result of the economic vacuum in the country."
Al-Enezi pointed out, "The lack of exchange outlets is caused by the lack of political and economic stability and the lack of administrative authority of the government."
And the Central Bank of Iraq announced that Iraq advanced ten ranks in the list of countries with the most gold reserves, bringing its total possessions to (130.39) tons, ranking thirty in the world and fourth in the Arab world.
The price of gold globally is affected by the extent of raising and decreasing the value of the dollar, as it is in an inverse relationship between gold and the basket of global currencies such as: the dollar, the euro, the Japanese yen, the British pound, the Chinese yuan, and other currencies. The value of currencies fell, the price of gold rose, while the local market in the Kingdom is directly affected by the global market.

From: Raghad Daham
Editing: Wafaa Al-Fatlawy

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  • Time: 08/07/2022 09:35:49
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Iraq achieves a major global leap in gold reserves
  
{Economic: Al Furat News} Iraq rose 10 ranks among the countries with the most gold in the world, according to the latest report of the World Gold Council, issued today, Sunday.

In its latest schedule for the month of August, the council said, "According to Iraq's large purchases of 34 tons, the latter rose ten ranks to rank 30 out of the 100 countries listed in the table with the largest gold reserves, reaching 130.4 tons of gold, which represents 11.5% of His other precautions.

He explained that "Iraq has become the fourth largest Arab gold reserve after it was the sixth, surpassing Egypt and Libya, which ranked fifth and sixth, respectively."

He pointed out that "international central banks added 111.19 net tons to global gold reserves," noting that "the bulk of the rise resulted from purchases from Iraq (33.97 tons), while Turkey continued to buy by (26.60) tons, and Uzbekistan bought (26.44). tons, Kazakhstan (15.79) tons, and India (8.39) tons.

He added that "Germany was the biggest seller this month, as it sold 3.36 tons of gold, followed by Mongolia (0.80) tons, followed by the UAE (0.27) tons.

Globally, the United States of America still leads the rest of the countries with the largest gold possession in the world, at 8,133 tons, followed by Germany, 3.355 tons, then Italy, 2,451 tons, while Laos ranked 100, with 0.9 tons, preceded by the Republic of Cape Verde with one ton.

On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.

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 2022-08-07 01:41
 

Shafaq News/ The World Gold Council announced, on Sunday, that Iraq rose ten ranks after purchasing 34 tons, to reach the 30th rank among the largest countries in possession of gold reserves in the world.

The council said in its latest schedule for the month of August of the year 2022, which was seen by Shafak News Agency, that "the global central banks added 111.19 net tons to global gold reserves," noting that "the bulk of the rise resulted from purchases from Iraq (33.97 tons), while Turkey continued to purchase 26.60 tons, Uzbekistan 26.44 tons, Kazakhstan 15.79 tons, and India 8.39 tons.

He added that "Germany was the biggest seller this month, as it sold 3.36 tons of gold, followed by Mongolia (0.80) tons, followed by the UAE (0.27) tons.

The Council also indicated that "according to the large purchases of Iraq amounting to 34 tons, the latter rose ten ranks to reach the 30th rank out of the 100 countries listed in the table with the largest gold reserves, bringing its gold holdings to 130.4 tons, which represents 11.5% of the rest of its other reserves."

He explained that "Iraq has become the fourth largest Arab gold reserve after it was the sixth, surpassing Egypt and Libya, which ranked fifth and sixth, respectively."

Globally, the United States of America still leads the rest of the countries with the largest gold possession in the world, at 8,133 tons, followed by Germany, 3.355 tons, then Italy, 2,451 tons, while Laos ranked 100, with 0.9 tons, preceded by the Republic of Cape Verde with one ton.

On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.

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