Iraq maintains its reserves of gold and China and India consuming more


4 hours ago


(Independent).


World Gold Council declared that Iraq keep its reserves of gold for October, noting that both China and India are the most time consuming this precious metal.

The Council said it followed (independent) said Saturday that "official statistics for the month of October showed that Iraq keep its reserves of gold and does not buy or sell any amount of gold", stating that "its reserves of gold remained stable at 89.8 tons."

Iraq ranked 37 between States possessing gold fixed reserve

The Council said that "these reserves of gold represent 6.9% of its foreign exchange reserves," Noting that "Iraq ranked fifth in this Arab reserves and ranked 37."

The Council said that "the United States ranks first in gold reserves by 8.133 tons followed by Germany with 3.378 thousand tons, with both China and India are the most time consuming this precious metal.

The Central Bank decided on 23 January 2014 coinage of pure gold bullion lineup ranging from weights (50 g and 1000 g) gold dealers to sell to investors and interested segments of society in Iraqi dinars.

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