The coffers of the Arabs give them huge sums of money, what about Lebanon?

On Monday, gold prices reached their highest levels in more than six years, the value of gold reserves held by global central banks, including Saudi Arabia, having risen.

Bloomberg data showed that the price of gold ounces in futures contracts increased by 14.5% from $ 1,284 to $ 1,470 earlier this year.

It should be noted that the most prominent Arab economies have not increased their gold reserves over the past year, despite the upward trend of several international countries, but it should be noted that the value of these reserves increased with the price of the precious metal.

The table below, based on data from the World Gold Council, presents the results of a number of Arab countries thanks to the rising price of gold, knowing that these countries have not not increased their gold reserves since October 2018:

The rise in gold was fueled by trade tensions between China and the United States, as well as worries over global growth that prompted investors to seek safe havens, as well as the central banks of the country. the world, especially China and Russia, to reduce their reliance on their dollar reserves.

According to data from the World Gold Council, the Russian central bank issued a list of gold buyers in the first quarter of this year, buying 55.3 tons.

The Council pointed out that "in the first quarter of this year, the countries of the planet had increased their reserves by 145.5 tons of gold, an increase of 68% over the same period of time. 39, last year.