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Iraq boosts gold reserves for the first time in years
Twilight news/Iraq has taken the first major step in years to strengthen its reserves of gold in the past few months to join other central banks from emerging market economies such as Brazil and Russia to diversify foreign reserves.
Central Bank purchases was one of the major reasons behind the rising gold prices since 2010 the year that saw the Central Bank turned into buyers which naturally concludes of the precious metal for the first time in 20 years with growing doubts about the stability of the dollar as the world's reserve currency.
The monthly report showed the IMF Statistics seen by "twilight news" that during the three months between August and October this year Iraq gold stocks have quadrupled to $ 31.07 tons.
The first change in reserves for years bought Iraq towards 23.9 tons in total up to 18.5 tonnes. This was followed by an increase of 2.3 tons in September to total up to 32.09 tons then retreated 1.02 stocks tonnes in October to 31.07 tons.
No information for the month of November.
And among other central banks lifted Brazil stocks of yellow metal for the third consecutive month in November to strengthen nearly one third to 67.199 tons. Russia has also added 2.86 tonnes to 937.82 tonnes and reserves is the eighth largest stocks of gold in the world.
And the World Gold Council data showed that the United States is the largest stock in the world keeps more than 8,100 tons of the precious metal, according to Reuters.
But some States have reduced its holdings of gold such as Turkey, Sri Lanka, Mexico and Mongolia.
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Twilight news/Iraq has taken the first major step in years to strengthen its reserves of gold in the past few months to join other central banks from emerging market economies such as Brazil and Russia to diversify foreign reserves.
Central Bank purchases was one of the major reasons behind the rising gold prices since 2010 the year that saw the Central Bank turned into buyers which naturally concludes of the precious metal for the first time in 20 years with growing doubts about the stability of the dollar as the world's reserve currency.
The monthly report showed the IMF Statistics seen by "twilight news" that during the three months between August and October this year Iraq gold stocks have quadrupled to $ 31.07 tons.
The first change in reserves for years bought Iraq towards 23.9 tons in total up to 18.5 tonnes. This was followed by an increase of 2.3 tons in September to total up to 32.09 tons then retreated 1.02 stocks tonnes in October to 31.07 tons.
No information for the month of November.
And among other central banks lifted Brazil stocks of yellow metal for the third consecutive month in November to strengthen nearly one third to 67.199 tons. Russia has also added 2.86 tonnes to 937.82 tonnes and reserves is the eighth largest stocks of gold in the world.
And the World Gold Council data showed that the United States is the largest stock in the world keeps more than 8,100 tons of the precious metal, according to Reuters.
But some States have reduced its holdings of gold such as Turkey, Sri Lanka, Mexico and Mongolia.
[You must be registered and logged in to see this link.]
