Lebanese get gold! 18th largest reserves in world

The World Gold Council’s latest figures show official gold holdings in Lebanon stood at 286.8 tons as of August. This amount places Lebanon in the 18th position among the 100 countries worldwide in terms of gold reserves and the second among the 14 surveyed countries in the region. Lebanon’s gold holdings accounted for 25 percent of the region’s total and 0.9 percent of the world’s total. On a global basis, Lebanon’s gold reserves are less than those of Venezuela, Saudi Arabia and the United Kingdom, while they are more than those of Spain, Austria and Turkey. Regionally, Lebanon’s gold reserves were surpassed by those of Saudi Arabia, which totaled 322.9 tons. Lebanon’s holdings exceeded Algeria’s, which totaled 173.6.