Turkey Raises Gold Reserves 23 Tonnes

September 25, 2013 at 09:30

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Turkey’s central bank raised its gold holdings by 23.344 tonnes in August to 487.351 tonnes, preliminary data from the International Monetary Fund showed on Wednesday.

Canada reduced its holdings by 0.03 tonnes, according to the IMF’s website.

In July, Turkey lifted its gold holdings by 22.5 tonnes, the biggest increase among the 15 central banks that raised their gold reserves.

Gold holdings by central banks are keenly watched since, as a group, they became net buyers in 2010 after two decades as net sellers. The 2008 global economic crisis triggered resurgent official-sector interest in gold.