Iraq drops to 29th place globally in gold reserves

  Iraq drops to 29th place globally in gold reserves

The World Gold Council announced on Sunday that Iraq has dropped one place in its ranking of the world's top gold-holding countries.

According to the latest index published by the Council in June, and reviewed by Iraq Observer, Iraq ranked 29th out of 100 countries listed, down from 28th globally and fourth in the Arab world, after Saudi Arabia, Lebanon, and Algeria.

According to the table, Iraq's gold holdings amounted to 162.7 tons, representing 12.9% of its total other reserves.

The Council noted that "the United States of America tops the list of the world's largest gold holders, with 8,133,000 tons, followed by Germany with 3,351,000 tons, then Italy with 2,451,000 tons, while Iceland and Tobago come in last with 2 tons."

The World Gold Council, headquartered in the United Kingdom, has extensive experience and in-depth knowledge of the factors influencing market changes, and its members include the world's largest and most advanced gold mining companies   link