Turkish central bank binges on gold

MINING.com Editor | September 25, 2013 | 12:03 pm Precious Metals Asia Europe Gold 

Turkey’s central bank added 23.3 tonnes of gold in August, taking the country’s total holdings to 487.351 tonnes, according to the International Monetary Fund (IMF).

This is the second consecutive month of big gold buying for Turkey: the country increased its holdings by 22.5 tonnes in July, more than any other nation.

See also: Top 10 gold-loving central banks

Turkey beefed up its bullion holdings in February and March of this year before the massive $225-drop in gold prices, and it hasn’t slowed down.

Since the 2008 global financial crisis, central banks around the world have, collectively, become net buyers of bullion.

 

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Comments

  • Ed Smith

    That is really a huge reserve,

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