Glod is a heavy commodity that cannot be monetized, official says

Shafaq News/ The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said that the central banks' reserves of gold come as part of a balanced basket with the rest of the currencies.

 Salih told Shafaq News Agency, "All central banks in the world hedge reserves of currencies that have a very very high credit rating, in addition to gold", noting, "there must be a balanced basket of different currencies to maintain the purchasing power of the reserves."

"These reserves consisting of currencies and gold do not come randomly, but rather depend on global evidence that is mentioned and issued by the International Monetary Fund every now and then," pointing, "part of these reserves is monetary gold so that the country's investment portfolio is low in risks."

 Saleh pointed out that gold is not usually hedged; It is partial and does not exceed 10% of the central banks' reserves, indicating that monetizing gold is difficult, since it is a heavy commodity, unlike other currencies that can be bought and sold in moments.