The year 2021 witnessed significant fluctuations in global stock markets, including gold contracts, amid the COVID-19 crisis and its economic repercussions. Gold is considered a safe haven, especially in times of crisis, as many turn to it to hedge against inflation risks. In the past two years, gold prices have risen due to the pandemic and its consequences.
Recently, the World Gold Council published its report for December 2021, marking the final report for the year 2021, which revealed that the reserves of central banks worldwide amounted to 35,582.3 tonnes of the metal. The gold reserves of Arab countries constituted about 3.85% of total global reserves. Below is a table showing the ranking of Arab countries based on their gold reserves according to the World Gold Council’s report for December 2021:
