The figures published in the latest report of the World Gold Council, shown that the central banks worldwide have purchased in the year 2018, about 651.5 tons of gold. The report revealed that Russia and Turkey raised their reserves of gold at the expense of the dollar.
According to the report, countries such as Iraq, India, China and Kazakhstan were among the major gold buyers in 2018. According to data, the Iraqi Central Bank Iraq increased reserves of gold last year by 6.45 tons, bringing the total gold reserves to 96.3 tons.
The Kingdom of Saudi Arabia topped the Arab countries in terms of reserves of gold, which amounted to 323.1 tons, followed by Lebanon in second place with a total of (286.8 tons), and Libya in third place (116.6 tons).
Source (Economic Bulletin website, Edited)
