Precious metals

A month ago, money managers were the most optimistic on gold this year. Now, they can’t seem to unload bullion fast enough.

Turkish gold imports rose 17-fold to 28.2 tons in March, as citizens looking to hedge currency risk ahead of a referendum followed President Recep Tayyip Erdoğan's calls to buy gold instead of dollars.

Germany is filling up the country’s vault with gold. The reason seems to be that the German gold stored in the American Central Bank FED and in the French Banque de France, is returning to the country. Out of the 3.381 tons Germany plans to have half back inside the country by 2020.

The last Games where champions wore pure gold around their necks took place in Stockholm 104 years ago. Today, an Olympic gold medal consists of 92.5 percent silver, 6.2 percent copper and 1.3 percent gold. If its worth is measured in weight, then a gold medal from this year's Olympics is worth about US $550.

Stories sell

The price of gold continued to drop for second day in a row. The precious metal lost 0.1 per cent as it fell to 1,262.90 per ounce in the markets. The gold futures contract for April lost 1.10 US dollars, a second drop after its Monday fall by 0.5 per cent.

The global demand for gold dropped to its lowest level in five years last year, the World Gold Council stated in a report released on Feb. 12.

Consumer demand for gold fell by 4 percent from 2013, as slow economic growth in Asia dampened sales of jewelry.

Turks still favor a timeless investment strategy: Buy gold and hide it somewhere safe, usually under a pillow or under the mattress.

"I don't understand modern investments like stocks and forex. Gold is my family's traditional investment, as my mother always encouraged me to buy gold for savings," says 36-year-old Selda Kırpınar in Ankara, who stores away her gold at home.

BELGRADE - Serbia has 17.44 tons of gold according to the data of the National Bank of Serbia (NBS) and no one is thinking of selling it, Berlgrade daily Politika reads on Wednesday.

With this amount, Serbia ranks 62nd in the world according to the preliminary data for November released by the World Gold Council.

An ancient coin believed to be the oldest one found so far in Bulgaria has been discovered in the Black Sea just off the town of Sozopol.

Bulgaria's National Revenue Agency (NRA) is putting up for auction nearly 100 kg of gold, silver and platinum.

The items put up for sale belonged to debtors of the NRA, Nova TV informs.