Cash-strapped Lebanon finds itself sitting on a gold mine, as precious metal prices surge скачать в хорошем качестве

Cash-strapped Lebanon finds itself sitting on a gold mine, as precious metal prices surge

(6 Feb 2026) RESTRICTION SUMMARY: ASSOCIATED PRESS Beirut - 2 February 2026 1. Various of woman inside gold shop negotiating with salesman 2. SOUNDBITE (English) Sami Zoughaib, economist at Beirut-based think tank The Policy Initiative: "We have 286 tons of gold, which basically are a bit more than 9 million ounces that in recent markets are valued at about $50 billion. And that is twice the size of Lebanon's GDP, so in terms of gold to GDP ratio, probably Lebanon ranks the highest in the world. And there has been a lot of conversation in Lebanon about the utilization, how should we use this gold? How should you use what essentially is the last remaining piece of public wealth that we have in the country. And there has been a push, a very strong push, to utilize that money in order to cover some of the banking sector losses.” 3. Various of gold shop salesman organizing gold in shop's window 4. Various of salesman holding gold bar 5. Various of gold shop salesman organizing gold in shop's window 6. SOUNDBITE (Arabic) Ali al-Shab, gold shop salesman: “We’re having more customers buying gold ounces and gold coins mostly, and we’re starting with silver now, most customers used to buy gold bracelets, that kind of thing. Now, the desire is for ounces and coins, they’re buying them as an investment. Customers are now following gold prices as well, they know them faster than I do.” 7. Various of man packing gold bars 8. Salesman handing gold to couple 9. Couple at counter 10. SOUNDBITE (Arabic) Alia Shehade, Beirut resident and shopper: “Gold is nice, it’s adornment and treasure. A woman can use it as a way to save her money for a crises, if she’s in a tough situation or if she gets ill of falls into hardship she can sell her gold. And when gold prices go up, then she’s the winner.” 11. Various of gold shop salesman organizing gold in shop's window STORYLINE: Tiny Lebanon sits on one of the largest gold reserves in the Middle East and its government is weighing whether it can use that stockpile to restore a crippled economy while its citizens are looking at gold as a way to revive their battered finances. Lebanon’s economy hobbled into 2026, with ongoing inflation and state decay and no reforms to combat corruption in sight. Its banks collapsed in late 2019 in a crippling fiscal crisis that evaporated depositors’ savings and plunged about half its population of 6.5 million into poverty, after decades of rampant corruption, waste, and mismanagement. The country suffered some $70 billion in losses in its financial sector, further compounded by about $11 billion in the 2024 war between Israel and the Hezbollah militant group. The price of gold recently soared to an all-time high of $5,354, before dropping back below $5,000, sparked by geopolitical instability and questions surrounding U.S. President Donald Trump’s desire to lower interest rates that would ultimately devalue the dollar. Global central banks have been among the most avid buyers. Silver prices meanwhile have also surged due to industrial demand and the attractiveness of a much cheaper price than gold. The central bank in Beirut has maintained a reserve of 286 tons of gold - some nine million ounces - since the 1960s. Only Saudi Arabia’s central bank holds more in the region. The government is considering using some of its gold reserves to bail out the banks and pay back depositors who got wiped out. But doing so would go against historical precedent. Meanwhile, those depositors are buying gold and silver in hopes of making up some of their losses. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter:   / ap_archive   Facebook:   / aparchives   ​​ Instagram:   / apnews   You can license this story through AP Archive: http://www.aparchive.com/metadata/you...