Preference for Gold Savings Among Turks Surges, Hurriyet Says
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Preference for holding gold as a form of savings in Turkey surged to the highest level since at least 1998, Hurriyet newspaper reported, citing a Mastercard survey in the country.
Gold was the most-preferred savings vehicle among Turks, at 22 percent, followed by savings of Turkish lira “stuffed under the pillow” in second at 21 percent and bank deposits in third at 15 percent, Hurriyet said, citing Mastercard’s survey in 11 Turkish provinces. Foreign-currency savings were preferred by around 8 percent of the population, while bond purchases and stocks each accounted for 6 percent, it said.