Peter's Blog

Turkey Continues Gold-Buying Spree in Quest for Independence from US Dollar

Turkey went on a gold-buying spree in 2017. That trend continued through the first two months of 2018 as the country continues to diversify away from foreign currencies – i.e. the dollar. Data released by Borsa Istanbul shows Turkey imported 44.47 tons of gold in January and 16.03 tons in February for a total of […]

Turkey on a Gold Buying Spree

Turkey is buying gold. The question is: why? According to a Bloomberg report, the Turkish central bank added 3.8 million ounces of gold worth almost $5 billion to its reserves this year.