Libya leads the Arab and African world in gold reserves

Libya ranked fourth in Africa and sixth in the Arab world according to the gold reserves of its Central Bank, with 116.6 tons of gold reserves.

According to the Libyan Index Building Center, gold accounts for about 10.43 percent of the total reserves of the Central Bank of Libya.

Arab central bank purchases exceeded 54.8 tons of gold in 2023, with the Central Bank of Libya leading demand with 30 tons, followed by the Central Bank of Iraq, which bought 12.3 tons.

The United States leads the world with more than 813 tonnes of the world’s gold reserves, followed by Germany and Italy.

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