Iraq Economic News and Points To Ponder Monday Evening 12-8-25
Iraq And Arab Countries Possess More Than 1600 Tons Of Precious Metal Reserves
Money and Business Economy News – Baghdad The World Gold Council announced on Tuesday that Iraq and 15 other Arab countries possess more than 1,600 tons of global gold reserves.
The council said in its latest table for December that "15 Arab countries, including Iraq, possess 1,638 tons of gold out of 100 countries listed with the World Gold Council."
He added that the top six Arab countries, namely: (Saudi Arabia, Lebanon, Algeria, Iraq, Libya and Egypt), possess 1,230 tons, while the remaining Arab countries (Kuwait, the UAE, Jordan, Qatar, Morocco, Tunisia, Oman, Bahrain and Syria) possess 408 tons.
According to the table, "Iraq's gold reserves amounted to 170.9 tons, maintaining its 29th position globally out of 100 countries listed in the table with the largest gold reserves."
It is worth noting that the World Gold Council, which is based in the United Kingdom, has extensive experience and in-depth knowledge of the factors affecting market changes, and its members include the world’s largest and most advanced gold mining companies. https://economy-news.net/content.php?id=63231
Relative Stability In The Exchange Rate In Baghdad Markets
Economy | 09/12/2025 Mawazin News – Baghdad: The exchange rate of the US dollar witnessed relative stability in local markets amidst normal trading activity. The selling price in Baghdad's markets was recorded at 143,500 Iraqi dinars per 100 US dollars, while the buying price reached 142,750 dinars.
This stability comes after limited fluctuations in recent days, as markets await any new directives from financial authorities regarding the regulation of trading operations. https://www.mawazin.net/Details.aspx?jimare=271357
Gold Prices Stabilize As The Market Awaits The Federal Reserve's Decision On Interest Rate Cuts.
Economy | 09/12/2025 Mawazin News - Follow-up: Gold prices held steady as investors largely priced in the Federal Reserve's interest rate cut, while bracing for signals that the US central bank might proceed with a slower-than-expected easing cycle at its two-day policy meeting beginning later today.
Spot gold was steady at $4,186.99 per ounce by 02:31 GMT. US gold futures for December delivery fell 0.1% to $4,215.80 per ounce.
Wall Street's main index closed lower on Monday, with the Dow Jones Industrial Average down about half a percent, the S&P 500 down more than a third of a percent, and the Nasdaq Composite down modestly.
Earlier this month, Federal Reserve Chair Jerome Powell signaled a hawkish stance on interest rate cuts during his press conference. As a result, investors in the US Treasury market are reassessing their positions.
The yield on the benchmark 10-year Treasury note touched its highest level in two and a half months on Monday. Rising U.S. Treasury yields increase the opportunity cost of holding non-yielding assets, such as bullion.
Analysts widely expect a "tough cut" in interest rates this week, accompanied by guidance and forecasts that point to a high threshold for further easing next year.
Markets now estimate the probability of a quarter-point rate cut at the Federal Reserve's December 9-10 meeting at 87%, down from 90% on Monday, according to CME's FedWatch tool. https://www.mawazin.net/Details.aspx?jimare=271350
Oil Prices Remain Stable Amid Anticipation Of Ukrainian Peace Talks
Economy | 09/12/2025 Mawazin News - Oil prices stabilized in trading on Tuesday after falling 2% in the previous session, as markets monitored peace talks on Ukraine and awaited US interest rate decisions. West Texas Intermediate (WTI) crude futures for January traded at $58.75 a barrel, down slightly by 0.22% from the previous close.
Meanwhile, Brent crude futures for February traded at $62.39 a barrel, down 0.16%. Oil prices remained stable amid anticipation of the Ukrainian peace talks. https://www.mawazin.net/Details.aspx?jimare=271349
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