Africa's Gold Reserves Hit $91.7 Billion, North African Countries Lead Rankings
Africa's gold reserves have surged to $91.7 billion, driven by a rally in global gold prices. North African countries like Algeria, Libya, and Egypt hold significant gold reserves, with Algeria's central bank leading with 173.56 tons of gold.
The World Gold Council (WGC) data reveals that 13 African central banks collectively hold 715.68 tons of gold. Despite this growth, Africa's share of global central bank gold holdings remains modest at just 2%.
The concentration of global gold reserves is high among advanced economies, with the United States Federal Reserve holding a significant portion.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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