Iraq raises its gold reserves to exceed 145 tons
Mawazine News Baghdad
Iraq’s gold reserves rose significantly during February 2024, as IMF data showed that Iraq had increased its possession of the precious metal by 3.079 tons, bringing the total to 145.661 tons.
This increase indicates that Iraq’s strategy continues to diversify its foreign reserves and promote long-term financial and monetary stability.
Gold is a traditional safe haven for investors, especially in periods of economic and geopolitical uncertainty.
The move comes by Iraq at a time when the world is witnessing a rise in gold prices, as the price reached its highest level in its history last month above $2,400 an ounce.
Iraq is among the countries that have large amounts of gold reserves in the Arab region, where it ranks fourth after Saudi Arabia, Algeria and Morocco.
In general, this increase in Iraq’s gold reserves is a positive indicator of the health and strength of the Iraqi economy.
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