Turkey's gold reserves have plummeted by nearly 120 tons in two weeks, marking the largest weekly decline since 2013.
Show original
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
⑴ According to data from the Central Bank of Turkey, gold reserves decreased by 69.1 tons to 702.5 tons last week, with a total decline of more than 118 tons over two weeks. This move aims to mitigate the market impact caused by the Iran war. ⑵ Last week's decrease was the largest single-week drop in internationally recognized gold reserves since the Central Bank of Turkey began publishing data in 2013. ⑶ According to estimates by three bankers, last week's data indicate that the Central Bank of Turkey sold around 26 tons of gold, with approximately 42 tons used for swap transactions. ⑷ As the spillover effects of the war drive global energy prices higher, the Central Bank of Turkey has used gold reserves and carried out large-scale foreign exchange sales and other measures to support the lira exchange rate and boost market liquidity.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
You may also like
USA Rare Earth releases transcript of Q2 2026 earnings call
Reuters•2026/08/28 00:53
What does the "niche market" for gold mean?
行业观察•2026/08/28 00:50
Nitto Denko flags UL certification renewal lapse for NITOFLON 973UL-S tape shipments
Reuters•2026/08/28 00:38
Crypto prices
MoreBitcoin
BTC
$80,464.18
+2.21%
Ethereum
ETH
$2,514.24
+0.87%
Tether USDt
USDT
$1
+0.02%
BNB
BNB
$714.12
+1.44%
XRP
XRP
$1.45
+2.98%
USDC
USDC
$0.9999
-0.00%
Solana
SOL
$109.43
+8.38%
TRON
TRX
$0.3379
+0.75%
Hyperliquid
HYPE
$83.97
+3.03%
Dogecoin
DOGE
$0.08912
+2.67%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now