Turkish central bank led global gold sales in November

WGC says higher local demand boosted gold trading between banks and CBRT


Turkey’s central bank sold nearly 3.6% of its gold holdings in November 2020, according to data published today (January 7) by the World Gold Council.

The Central Bank of the Republic of Turkey sold 20.9 tonnes of gold, lowering its total holdings to 547 tonnes. The CBRT led global gold sales among central banks in November.

Its holdings were little changed for much of last year. But in the three years from early 2017 to early 2020, the CBRT increased its gold holdings nearly five-fold.


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