Morocco currently holds 22.1 tonnes of gold, representing 5.4% of its foreign exchange reserves, according to the latest World Gold Council report. This places Morocco 67th in the global ranking of official gold holders.
Data from Bank Al-Maghrib (BAM), Morocco’s central bank, indicates that the country’s gold reserves have remained relatively stable in recent years.
While Morocco’s gold reserves are lower than those of some Arab countries like Saudi Arabia and Lebanon, they exceed those of comparable economies such as Tunisia.
Globally, the United States maintains its position as the largest holder of gold reserves, followed by Germany and the International Monetary Fund.
The report notes that in recent years, amidst geopolitical uncertainties and financial market volatility, several central banks have increased their gold holdings to enhance their monetary resilience.
Gold is considered a safe-haven asset that provides a hedge against currency fluctuations and helps preserve the value of monetary reserves during times of global economic uncertainty.
MK/ac/fss/abj/APA