The remarkable trend of Saudi Arabia towards increasing gold reserves during the past months highlighted the motives of the Kingdom and the reflection of its approach on its economic performance in the short and medium term, amid the race of many influential countries regionally and globally in the same direction, led by China, Russia, and Turkey.
While data from national central banks showed a decline in global total reserves in February by $276.4 billion to $12.852 trillion, Saudi Arabia's reserves rose to $452.6 billion.
Saudi Arabia is the only Arab country in the top ten list of international reserves, and occupies sixth place, after China, Japan, Switzerland, Russia, and India. It comes at the top of the list of the most gold-owning Arab countries, with reserves of 323.1 tons, followed by Lebanon in second place with about 286.8 tons.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
