The World Gold Council issued its report for March to the Arab countries that hold the most gold reserves.
In its latest report, the council said in the report that the possession of the world's central banks amounted to 35,244.5 tons, adding that countries' possession of the precious metal increased in light of the corona pandemic.
According to the report, Saudi Arabia topped the Arab countries with gold reserves to rank 18th in the world classification, with 323.1 tons, constituting 4.1% of its total reserves.
Lebanon came in second on the list of Arab countries with the largest gold reserves and 20th in the world with reserves amounting to 286.8 tons as Algeria landed in the third spot and 26th globally, with 173.6 tons of gold reserves.
Libya ranked fourth with reserves of up to 116.6 tons (ranked 33 globally). Iraq ranked fifth among Arab countries (38th globally), with reserves of up to 96.4 tons.
Egypt ranked sixth in the Arab world with reserves of yellow metal amounting to 80.2 tons.
Kuwait stood at the seventh spot in the Arab world ranking with reserves of 79 tons, followed by the UAE with reserves of 57.6 tons, Qatar at 56.7 tons and Jordan at 43.5 tons.
Globally, the United States topped the list with reserves amounting to 8,133.5 tons, then Germany (3362.4 tons), followed by Italy (2,451.8 tons), and France (2,436.2 tons), while Russia ranked fifth with reserves of 2,295.4 tons.
Arab Countries with the Largest Gold Reserves:
Countries with Largest Gold Reserve:
Contributed by: Waleed Farouk
Follow the latest news on Google News
