According to the World Gold Council, Turkey's gold reserves increased by more than 40 tonnes of gold in August. Official holdings, including bank deposits, increased by only 7 tonnes.
Tag: gold market
The gold price has again established itself above the USD 1,500 mark. The new reporting week will give further indications on the economic development in the big economies.
The record ride in US equity markets has led to a slight slowdown in interest in gold. The yellow precious metal is currently trading below 1,500 dollars again.
In addition to the well-known investors from Russia and China, many other central banks have recently bought gold of considerable size. These include Turkey, Australia and Qatar.
At the US commodity futures exchange COMEX, the number of futures contracts on gold has risen sharply again.
At the end of last year, the various market turmoil had caused the gold price to rise sharply. In addition to the Brexit and the Sino-US trade dispute, there …