TEHRAN (Commodity Online): Iran has more than 900 tonnes of gold, as per a national newspaper report, more than India and Japan!
As per the World Gold Council data of Aug 2011, this makes Iran the 10th largest holder of gold reserves in the world, beating Japan and India who both have 843.3 tonnes and 614.6 tonnes of the metal respectively.
Fars News Agency quoted Yahya Ale-Eshagh, Chairman of the Tehran Chamber of Commerce as saying that his country has 907 tonnes of gold and $120 billion in foreign currency reserves. As such, Iran has no shortage of foreign funds to meet any obligations that may arise, he added.
Earlier, on the aftermath of the alleged nuclear weapons development, the European Union had decided to ban all trade in gold and silver with Iran's central bank
