Record Turkey Gold Output Is All Headed for the Central Bank
- Central bank is the only buyer of local production since 2017
- Gold reserves soar as foreign-exchange holdings decline
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Turkey is poised to produce a record amount of gold this year and the central bank will probably buy all of it -- at prices near record highs.
Production by one of the world’s top buyers of the precious metal is expected to increase 16% to 44 tons this year, Hasan Yucel, the head of Turkey’s Gold Miners Association, said in an interview.