TO PROTECT HIS SAVINGS.. DOLLAR FLUCTUATIONS “FORCE” IRAQI CITIZENS TO BUY “GOLD”, 23 JAN

 TO PROTECT HIS SAVINGS.. DOLLAR FLUCTUATIONS “FORCE” IRAQI CITIZENS TO BUY “GOLD”

Economic affairs specialist Alaa Al-Fahd revealed, today, Thursday (January 16, 2025), the reason for the recent increase in gold imports in Iraq.

Al-Fahd told Baghdad Today, “The increase in gold imports has several economic implications, including that citizens are working to keep gold as part of their savings, as it is more reliable and stable, as a result of the fluctuations in the dollar.”

He explained that “the other reason is an improvement in income levels with a savings surplus, and this is what drives citizens to buy gold, and this is part of the positive situation, as the process of increasing gold imports is a healthy economic situation, and this is reflected in the Iraqi market.” 

Citizens usually prefer to buy gold during times of instability, rising inflation rates, economic problems, and fluctuations in the buying and selling of the dollar, as it is a safe haven and a protector from the risk of financial market collapse.

Experts say that the importance of saving gold has several advantages, the most important of which is that gold savings accounts provide their owners with a unique opportunity to diversify their investment portfolios and protect their wealth from market fluctuations.

Others say, “Gold retains its value over the long term, and is easy to sell, because it is unlikely to be worth less when you buy it.