Turkish Central Bank Gold Reserves Plunge: Largest Weekly Sell-Off in Nearly Six Years
Turkey's central bank gold reserves fell sharply by 49 tons to 771.8 tons in the week ending March 20. The bank sold approximately 22 tons directly, marking the largest weekly drop since August 2018. It also conducted about 31 tons in gold swap transactions, drawing significant market attention to the country's foreign exchange and gold reserve strategies.
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