Loading...
Loading reserves data...
Gold Reserves
624t
Reserve Value
$58.18B
% of Reserves
35.7%
YoY Change
-2.5t
Est. Purchase Cost
—
Gold/Currency Ratio
25.86%
Turkey sells gold amid severe fiscal pressures, high inflation, and lira volatility requiring liquidity for domestic needs. This reduction funds economic stabilization and debt servicing. Profit-taking from gold rallies supports immediate currency defense.
Notable Activity
Turkey reduced holdings by 2.5 tonnes year-over-year.
Key Motivations
What this means
The gold/currency ratio measures how much of a country's money supply is "backed" by gold reserves. A higher ratio suggests stronger implicit gold backing of the currency. This country has relatively strong gold backing compared to peers.
Bullion Fear & Greed Index
Was the market fearful or greedy when Turkey was buying? Central banks often buy gold during market fear — the opposite of retail.
Gold/Silver Ratio
Central banks buy gold, not silver. Track the gold/silver ratio to understand relative value between the two metals.
Mining ETFs
Central bank buying supports gold prices, which flows through to mining company valuations. Track GDX, GDXJ, and miner sentiment.
Data Sources
Gold holdings from IMF International Financial Statistics (IFS) and World Gold Council. M1 money supply from FRED and IMF. Geopolitical context enriched monthly. Last updated: 2026-03-31.