Connect with us

Hi, what are you looking for?

Finance

World Gold Council says Saudi Arabia topped Arab countries in reserves

World Gold Council

Saudi Arabia has ranked first among Arab countries in possessing gold, and ranked 18th in the world by the end of January 2021, data from the World Gold Council showed.

World Gold Council

The data of the World Gold Council, a global organization specializing in the gold market and interested in this field in all its aspects from mining to investment, showed that the Kingdom’s balance of gold reached 323.1 tons.

Lebanon came in second with 286.8 tons and ranked 20th in the world. Algeria, came in third with a gold balance of 173.6 tons.

The World Gold Council list also indicated that Libya ranked fourth in the Arab world and 33rd in the world with 116.6 tons. Iraq came in fifth place and the 38th in the world with its gold reserves at 96.4.

Egypt ranked sixth with 80.2 tons of gold reserves, and Kuwait came seventh with 79 tons.

According to the World Gold Council, the UAE took the eighth place in the Arab list with its possession of 57.6 tons. Qatar came in ninth possessing 56.7.

Whereas, Jordan ranked the tenth with 43.5 tons, and Syria ranked eleventh with reserves of 25.8 tons.

Morocco ranked twelfth with 22.1 tons of gold, and Mauritania ranked thirteenth with 12.4 tons.

Tunisia was in the fourteenth place in the Arab world with 6.8 tons, followed by the Kingdom of Bahrain with 4.7 tons, and in the sixteenth place Yemen with 1.6 tons of gold reserves.

The United States in the lead

According to the World Gold Council, the total holdings of gold by central banks around the world amounted to about 35.24 thousand tons. The United States of America topped the global list with about 8.13 thousand tons.

Germany ranked second at the global level with 3.36 thousand tons, followed by the International Monetary Fund, with its possession of about 2.8 thousand tons of gold.

Then Italy, with 2.45 tons, and France ranked fifth with 2.43 tons of gold, while Russia ranked sixth with 2.29 tons.

Finance

Lebanon expects to receive $1.1 billion from the International Monetary Fund (IMF) next Friday. The Lebanese Ministry of Finance said that the amount that...

Finance

The Arabian Internet and Communications Services Company (Solutions by STC) intends to offer 20% of its shares for public subscription in the Saudi stock...

News

Lebanese central bank governor Riad Salameh has said that he could no longer open lines of credit for fuel imports or subsidize its purchase....

special

The Saudi public debt has grown with about 2.4% during the second quarter of this year, compared to the previous quarter. The volume of...