Turkey’s $8 Billion Gold Drawdown Since Iran War Hits Bullion

Turkey’s central bank sold and swapped about 60 tonnes of gold (worth more than $8 billion) over two weeks following the start of the war in Iran. The disposals added downward pressure on bullion prices and could increase volatility in the gold market; the move may reflect liquidity or balance-sheet management needs amid geopolitical stress.

Analysis

Turkey’s central bank sold and swapped about 60 tonnes of gold (worth more than $8 billion) over two weeks following the start of the war in Iran. The disposals added downward pressure on bullion prices and could increase volatility in the gold market; the move may reflect liquidity or balance-sheet management needs amid geopolitical stress.