The World Gold Council estimated in its report Wednesday Libya's gold reserves at 116.6 tons, placing it fourth among the Arab countries, after Saudi Arabia, Lebanon, and Algeria.

The council's data showed that the world's gold reserves in August this year amounted to 34.076 thousand tons, 55.8% of these reserves were for the eurozone countries.

Gold prices are on the rise in global markets as trade war between China and the USA heats up.