Saudi Arabia has a quarter of the gold reserves of the Arab countries

Data from the World Gold Council revealed that Arab gold reserves in August rose to about 1,300 tonnes, out of the world's 34,000 tonnes of precious metals.

The data showed that Saudi Arabia leads Arab countries with gold reserves at 323.1 tons, which represents about a quarter of the reserves held by Arab countries in yellow metal.

The reserves of Saudi Arabia are part of its international reserves of gold, foreign exchange and drawing rights. According to SAMA data, Saudi reserves amounted to RM 1,862 billion (496, $ 5 billion) at the end of last year.

After Saudi Arabia, Lebanon ranks second in the Arab world with 286.8 tons of gold reserves, followed by Algeria with 173.6 tons, followed by Libya with 116.6 tons of gold. , 6 tons, while Iraq ranked in fifth place with reserves of 96.3 tons.

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It should be noted that these gold reserves belong to Arab central banks and have nothing to do with unexplored gold reserves.