Tag Archives | Gold

Treasure Hunters search Iraq for IS's Lost Loot

By Martin Chulov and Nechirvan Mando, for The Guardian. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Treasure hunters circle in search of Islamic State's lost loot The ruins of Iraq and Syria are proving a treasure trove, with former foes vying to […]

Kurdistan Imports Less Gold

By John Lee. The Kurdistan Region of Iraq has imported 26 tons of gold in the first six months of the year, a reduction on the same period last year. According to a report from Shafaaq News, 16.7 tons were imported through Sulaymaniyah International Airport, 8.2 tons through Erbil International Airport, and 1 ton through […]

Iraq Trebles Size of Gold Reserves

By John Lee. A report released this morning by the World Gold Council says that Iraq's Central Bank bought 48 tonnes of gold during 2014, trebling the size of its gold reserves over the year. Fortification and diversification of reserves, namely away from the US dollar, continues to be the driving force behind this activity, […]

Baghdad Gunmen Steal $3.8m Gold

By John Lee. Three gunmen wearing military uniforms have stolen more than 250 pounds of gold from a jeweler in Baghdad. A senior police official told NBC News that the men, traveling in a Land Cruiser with no licence plate and tinted windows, stopped a car belonging to the jeweler near the International Zone and […]


Central Bank of Iraq Buys 36 Tonnes of Gold

By John Lee. The Central Bank of Iraq has purchased 36 tonnes of gold valued at $1.6bn to help stabilise the Dinar against foreign currencies, Bloomberg reports. Iraq is now the 43rd largest holder of gold reserves globally, having already held 29.8 tonnes as of August last year, but the latest purchase is one of the biggest by […]

Iraq Boosts Gold Reserves

By John Lee. Iraq made its first major move in years to boost its gold reserves, joining central banks from emerging market economies such as Brazil and Russia in diversifying its foreign reserves. According to a report from the Lebanese Daily Star, central bank purchases have been one of the biggest drivers of gold's rally […]