Iraq among most prominent countries to buy gold in 2022
Gold bars. Photo: Shutterstock
Baghdad (IraqiNews.com) – A report issued by the World Gold Council revealed countries’ purchases of gold in 2022, and indicated that three Arab countries bought about 97 tons of gold.
According to the first report issued in 2023 by the World Gold Council, the world’s reserves of gold reached approximately 35.3 thousand tons.
Regarding the most prominent countries that bought gold during the past year, the report showed that Egypt bought 44.6 tons of gold, Iraq bought 33.9 tons, and the United Arab Emirates bought 18.5 tons.
Gold reserves in Iraq represent 8.7 percent of its total international reserves, while in Egypt it represents 22.1 percent, and in the United Arab Emirates it represents 6.5 percent.
Regarding the largest Arab countries owning gold, Saudi Arabia continued to lead the list as it possesses 323.1 tons, followed by Lebanon with 286.8 tons, followed by Algeria with 173.6 tons, then Iraq with 130.3 tons, and then Egypt with 125.5 tons.