Central Banks
Central Banks’ Gold Demand Falls Again on Turkey’s Massive Sales
- Net purchases by the institutions fall 64% to 103 tons
- Massive sales by Central Bank of Turkey drove the decline
The Central Bank of Turkey, released 132 tons of gold into its local market after imports were constrained.
Photographer: Michaela Handrek-Rehle/BloombergThis article is for subscribers only.
Central banks’ gold demand fell for a third straight quarter as massive sales by Turkey outshone buying elsewhere.
Net purchases by the institutions declined 64% to 103 tons in the second quarter, according to a report by the World Gold Council. That took demand to the lowest in more than a year.