Iraq's gold reserves jump 45% in Q4 2024
Mon Mar 03 2025
Iraq’s gold reserves saw a 45.1% increase in Q4 2024, compared to the same period in 2023, the Iraqi Central Bank (CBI) announced on Sunday.
The bank reported that its reserves grew from 12.29 trillion dinars (approximately $9 billion) in Q4 2023 to 17.83 trillion dinars (around $12 billion) in Q4 2024, driven by both a rise in the amount of gold held and a surge in global gold prices.
This growth is seen as a significant boost to Iraq’s economic and financial stability, with the CBI highlighting that it helps protect against market risks and serves as an important instrument for currency market interventions.
The World Gold Council reported in January 2024 that central banks in five Arab countries hold over 1,000 tons of gold, ranking them among the top 100 nations with the largest gold reserves worldwide. The latest 2025 data from the Council shows that these countries collectively hold 1,082 tons of gold.
Saudi Arabia leads the Arab world with the largest reserves, holding 323.1 tons, followed by Lebanon (286.8 tons), Algeria (173.6 tons), Iraq (152.7 tons), and Libya (146.7 tons).
Globally, the United States holds the largest gold reserves, with 8,133.5 tons, followed by Germany with 3,351.5 tons, and Italy with 2,451 tons. Haiti has the smallest reserves, with only 1.8 tons.
The total global gold reserves stand at 36,165 tons, with the Eurozone holding 10,770 tons of that amount.
Source: https://shafaq.com/