Gold reserve

An unprecedented 58 billion Turkish Liras ($3bn) was invested in gold in the first quarter of 2023 in Türkiye, according to the World Gold Council (WGC).

Bar and coin investment in Türkiye reached phenomenal levels in the first quarter, breaching 50 tons for the first time on record, said the council's latest edition of the Gold Demand Trends report.

The Turkish Central Bank’s gold reserves have reached a record-high 564.8 tons, mainly due to the Bank’s policy of replacing a large amount of U.S. dollar reserves with billions.

Germany’s central bank has brought much of its gold reserve back to Frankfurt, the Bundesbank said on Wednesday, restoring a bulwark of economic stability the country had stashed away at the height of the Cold War.

China's official gold reserves rose by almost 60 percent over the past six years, according to the first official data on the subject since 2009.

The central People's Bank of China (PBoC) said bullion holdings rose to 1,658 tons as of the end of June, from 1,054 tons in April 2009, the last time a figure was released.

Turkey cut it gold holdings for a second straight month in January, a period when the price of the precious metal rose the most in three years, International Monetary Fund (IMF) data showed on Feb. 24.

Turkey, which has the 12th biggest gold reserves globally, slashed its holdings by 14.227 tons to 514.893 tons last month, the IMF said.