Iraq’s gold holdings increased in May, showing the country’s growing focus on building strong foreign reserves.
According to the latest report, Iraq’s gold holdings rose by 100 kilograms. The total climbed from 162.6 to 162.7 tons.
Moreover, gold now makes up 16.1% of Iraq’s total foreign currency reserves. This highlights gold’s importance to Iraq’s economy.
Despite the rise, Iraq kept its global ranking at 28 out of 100 countries, based on gold reserves.
Additionally, Iraq held onto its fourth-place spot in the Arab world. It follows Saudi Arabia, Lebanon, and Algeria.
Meanwhile, the United States continues to lead with 8,133 tons of gold, far ahead of other countries.
Germany ranks second globally, holding 3,351 tons. Italy takes third place with 2,451 tons in its reserves.
On the other hand, countries like Iceland and Papua New Guinea hold just 2 tons each, staying at the bottom.
Clearly, Iraq’s gold holdings play a major role in its financial strategy. The country aims to diversify its assets.
Furthermore, Iraq seems committed to building a more secure financial future by increasing gold investments over time.
In recent years, gold has become a safer asset amid global economic changes. Iraq has followed this trend wisely.
Besides increasing gold stocks, Iraq also focuses on managing its total foreign reserves with care and balance.
Therefore, the rise in Iraq’s gold holdings shows more than just numbers. It reflects a policy shift toward safer assets.
Also, holding gold strengthens Iraq’s financial position in global markets, especially during uncertain economic times.
Experts say countries use gold to reduce risks linked to foreign currencies or inflation. Iraq appears to follow this advice.
Moreover, holding gold helps Iraq protect its economy from sudden market shocks or currency drops.
In conclusion, Iraq’s gold holdings will likely grow as the country continues its push for financial stability and strength.
This upward trend could influence Iraq’s future rank in the Arab world and possibly in global standings as well.
For now, Iraq’s gold strategy stays on track, with its holdings rising and its financial outlook becoming stronger.