Economy 2024-08-24 | 2,315 views Alsumaria News-Economy Iraq ranked ninth globally among the 10 countries that bought the most gold this year.
What is meant by gold is the conversion of foreign monetary reserves into gold, not the gold of goldsmiths and citizens.
Iraq bought 100 tons of gold this year, coming ninth out of the 10 countries that bought the most gold this year, compared to 1,298 tons bought by Russia, as amid escalating geopolitical tensions and economic fluctuations, interest in buying gold is increasing.
This comes as the price of the precious metal reached an all-time high of $2,531.75 per ounce after surpassing $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates.
The price of bullion usually benefits from low interest rates, and central banks hold gold reserves because of its strong collateral, liquidity and yield characteristics.
https://www.alsumaria.tv/news/economy/497884/أكثر-من-100-طن-العراق-تاسع-أكبر-مشترٍ-للذهب-في-2024
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