Saudi Arabia acquires a quarter of the Arab gold reserves by the end of the third quarter of last year

Saudi Arabia acquires a quarter of the Arab gold reserves by the end of the third quarter of last year

Saudi Arabia bought a quarter of the gold reserves of the Arab countries at the end of the third quarter of last year, at 323.1 tons, about 24.9% of Arab reserves of about 1.3 thousand tons.

The gold reserves of Saudi Arabia at the end of the third quarter of last year represented about 1% of the 33.64 thousand tons of world gold reserves, while the Arab reserves represented 3.9% of the world's reserves.

According to the analysis, based on data from the World Gold Council, Saudi Arabia ranks 14th in the world and the first in terms of gold reserves by the end of the third quarter of last year.

Saudi Arabia is ranked 17th among the largest producers of gold in the world, with three leading institutions: not the IMF, the European Central Bank and the Bank for International Settlements.

World gold reserves rose by only 0.1 percent (38.4 tons) in one year, from 33.56 thousand tons at the end of the third quarter of 2017.

While the reserves of Arabs during the same period increased by 1.2% (15.5 tons), where it was 1.28 thousand tons by the end of the third quarter of 2017.

Four Arab countries have increased their gold reserves in a year, Iraq is exported by 6.5 tons and Jordan by 6.2 tons. Qatar rose by 1.6 tons and Egypt by 1.2 tons.

On the Arab front, Saudi Arabia was in first place among 18 Arab countries with gold reserves declared in the other six countries and their holdings are not declared.

Lebanon ranked second with 286.8 tons, accounting for 22.1 percent of the Arab gold reserves, and Algeria with a reserve of 173.6 tons, equal to 13.4 percent of the Arabs.

Fourth, Libya has a reserve of 116.6 tons, which represents 9 percent of the gold reserves in the Arab states, followed by Iraq with a reserve of 96.3 tons, accounting for 7.4 percent .

Kuwait reached seventh place with a reserve of 79 tons, equal to 6.1% of Arab gold reserves, and Egypt with a reserve of 77.5 tons, equal to 6%.

Jordan has a reserve of 43.5 tons, 3.4 percent, and Qatar with a reserve of 31.3 tons, equal to 2.4 percent.

With a reserve of 25.8 tonnes, equal to 2%, followed by Morocco with a reserve of 22.1 tonnes, which makes up 1.7% of the Arab gold reserve, followed by the United Arab Emirates with a reserve of 7.5 tons, 0.6%.

Tunisia ranked 13th with a reserve of 6.8 tonnes, 0.5%, Bahrain with 4.7%, 0.4% and Yemen with a reserve of 1.6 tonnes, 0.1%.

In the 16, 17 and 18 Arab ranks, Mauritania, Oman and the Comoros arrived with gold reserves of less than half a tonne respectively.

As for the world ranking, the United States ranked first among the countries of the world in terms of gold reserves, about 8.1 thousand tons

It accounted for 24.2 percent of the world's gold reserves, followed by Germany with 3.4 thousand tons, equal to 10 percent.

Italy has a gold reserve of 2.5 thousand tons, equal to 7.3%, and France with a gold reserve of 2.4 thousand tons, equal to 7.2%.

In fifth place, Russia has a gold reserve of 2.04 thousand tons, equal to 6.1 percent of the world's gold reserves, and China with a gold reserve of 1.8 thousand tons , equal to 5.5 percent.

Switzerland entered with a reserve of 1,000 tonnes, equal to 3.1%, followed by Japan in eighth place with reserves of 765.2 tonnes, or 2.3%, and the Netherlands with a reserve of 612.5 tonnes, equal to 1.8%.

In 10th place, India had a reserve of 586.4 tons, equal to 1.7 percent of the world's gold reserves, and Taiwan with a reserve of 424.6 tons, equal to 1.3 percent.

In the 13th position, Kazakhstan had a reserve of 382.5 tons, equal to 1.1%. Kazakhstan was in thirteenth position with a reserve of 335.1 tons, equal to 1%, followed by Saudi Arabia with 14% of 323.1 tons, equal to 1% of reserves world gold.

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