Economic researcher Abdul Rahman Al-Shaikhli predicts that the gold reserves of Iraq should rise during the next two months.
Al-Mashhadani told {Euphrates News} “owning gold is considered part of the investment portfolio that countries seek, and Iraq has been storing gold and increasing its reserves for many years, especially with expectations of their rise during the next two months, and this means that the rise in gold prices is continuing and is part of the countries’ investments”.
Iraq boosted its reserves by two and a half tons of gold, but he stated that “maintaining dollar reserves or investing in Treasury bonds does not achieve profits commensurate with the size of the profits achieved from the increase in gold prices.”
Al-Mashhadani noted, “these are not large numbers that enhance citizen confidence and diversify investments, and this is the policy of a group of countries and banks, not just Iraq.”
International Monetary Fund statistics indicated that gold holdings in Qatar and Iraq showed increase.
Figures show that Iraq increased its gold stockpiles in May 2024 from 2,644,500 tons to 148,305,000.
Reuters claims that in June 2024 Qatar’s gold reserve rose from 3,112 tons to 106,424 tons.
