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IMF: Iraq strengthens gold reserves for the first time in years
21.12.2012 | (Voice of Iraq) - Add Comment - New York / SINGAPORE (Reuters) Iraq has taken the first big step in the years to strengthen its reserves of gold in the past few months to join other central banks of emerging market economies such as Brazil and Russia to diversify its reserves foreign. were Purchases central banks a main reasons behind the rise in gold prices since 2010, the year which saw the transformation of central banks to buyers Khalseen of the metal precious for the first time in twenty years with growing doubts about the stability of the dollar's status as the largest currency reserves in the world. monthly report showed the statistics Fund International Monetary Thursday that during the three months between August and October this year doubled balances Iraq from gold to four-fold to $ 31.07 tonnes. At the first change in the reserves for years Iraq has bought about 23.9 tons in August, bringing the total to 29.7 tons. This was followed by an increase of 2.3 tons in September, bringing the total to 32.09 tons and stocks fell 1.02 tonnes in October to 31.07 tons. No information was available for the month of November. Among other central banks raised Brazil balances of the yellow metal for the third consecutive month in November to promote by almost a third to 67.199 tons. Russian added 2.86 tons to reach reserves 937.82 tons a eighth-largest balances of gold in the world . data showed the World Gold Council that the United States, the largest stock in the world hold more than 8100 tonnes of the precious metal. , but some states have reduced their holdings of gold, such as Turkey, Sri Lanka, Mexico and Mongolia. (preparation Suha Gado for the Bulletin Arab - Edit Abdel Moneim structure)
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