Iraq stores gold and expects it to rise over the next two months, 28 JULY

  The economist, Abdul Rahman Al-Sheikhli, expected Iraq’s gold reserves to rise over the next two months.

Al-Mashhadani said: “The acquisition of gold is considered one of the investment portfolio sought by countries and that Iraq has long begun to store gold and increase its reserves, especially with expectations of its rise during the next two months, and this means that the rise in gold prices is continuing and is part of the investments of countries.”

He explained, “Keeping dollar reserves or investing in treasury bonds does not achieve profits commensurate with the size of profits achieved from the increase in gold prices, although Iraq increased its reserves by one and a half tons of gold.”
Al-Mashhadani pointed out that “these are not in large numbers that enhance the confidence of the citizen and the diversity of investments, and this is the policy of a group of countries and banks, not only Iraq.”
The International Monetary Fund data showed an increase in gold reserves in Iraq and Qatar.
The data indicated that Iraq increased its gold holdings by 2.644 tons to 148.305 tonnes in May 2024.
Qatar raised its gold stock of 3.112 tonnes to 106.423 tonnes in June 2024, the data showed, according to Reuters.

Raghid
 

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