GOLD
Turkey’s central bank is hoarding gold again. The question is, how much and why?
Official data show Turkey added 3.8-million ounces of gold worth almost $5-billion to reserves this year. While actual purchases could be much less – the figure is skewed by metal deposited by commercial banks – even if Turkey bought just one-third of the reported amount, it would still rank among the top two or three buyers this year.
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