Iraq’s gold reserves decline by 0.1 tons

Sun April 06 2025

The World Gold Council revealed in its most recent assessments, released on Sunday, that Iraq’s gold reserves had dropped by 100 kilograms. Iraq’s gold reserves, which account for 14.5 percent of the country’s foreign reserves, dropped 100 kilograms to 162.6 tons compared to 162.7 tons last month, according to Shafaq News.

In the list of 100 countries having the largest gold reserves, Iraq maintained its 28th rank. Additionally, following Saudi Arabia, Lebanon, and Algeria, Iraq kept its fourth rank among Arab countries.

With 8,133 tons, the United States leads the list of countries with the greatest gold reserves worldwide, followed by Germany with 3,351 tons, then Italy with 2,451 tons, while Iceland came in last with barely two tons.

Iraq’s domestic usage and sale of gold bullion is the reason for the 100-kilogram shortfall in the country’s gold reserves. Central banks around the world are expanding their bullion holdings amid mounting geopolitical and economic risks.

The Central Bank of Iraq (CBI) revealed earlier in March that the country’s gold reserves rose by 45.1 percent in the fourth quarter of 2024 compared to the same period in 2023. With a headquarters in London and offices in India, China, Singapore, the UAE, and the United States, the World Gold Council aims to use market growth to increase and maintain demand for gold.

Source: https://www.iraqinews.com/