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Middle East — Economy — Gold — Inflation — Investment — Turkey

Turkey Maintains Status as World’s Biggest Gold Buyer in January

Turkey was the biggest gold buyer among central banks in January, purchasing 23 tonnes of gold. Gold is a hedge against currency and inflation pressures for Turkish households.

1 min read
  • Turkey bought 23 tonnes of gold in January, making it the biggest buyer of the precious metal among central banks globally over the period.
  • Central banks around the world added a net 31 tonnes of gold to their reserves in January, increasing their purchases by 16% from December.
  • Gold is popular among Turkish households as a hedge against currency and inflation pressures.
Turkey Maintains Status as World’s Biggest Gold Buyer in January
Turkey bought 23 tonnes of gold in January, making it the biggest buyer of the precious metal among central banks globally over the period.
BloombergAsli Kandemir

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