- In an attempt to curb inflation and stabilize the lira, Turkish authorities sold 120 tons of gold from their reserves.
- As a result, the central bank earned approximately $18 billion, and the state now has 716 tons of precious metal left.
- The lira’s depreciation against the US dollar over the past month has been 1,4%. It can be said that the measure has been effective.
The Central Bank of Turkey sold 120 tons of gold, thereby contributing to the collapse of the precious metal’s exchange rate in March 2026.
Robin Brooks, head of the Brookings Institution сообщилSince the outbreak of the war in Iran on February 28, 2026, the Turkish authorities have liquidated their XAU reserves accumulated over three years. State gold reserves have decreased by 14,5% and now stand at 716 tons.
Dynamics of changes in gold reserves on the balance sheet of the Central Bank of Turkey
According to Brooks, the central bank received about $18 billion for 120 tons of gold and used this money to strengthen the lira’s exchange rate, decreased by 1,4% against the US dollar over the past month. This means that the XAU failed to halt the devaluation of the national currency that began in August 2008.
Turkey start actively sell gold on March 6, when the price of the precious metal hesitated Around $5,100. On March 11, a powerful bearish trend emerged, causing the XAU price to fall by almost 22% and, on March 23, to its lowest level since November 2025, $4,100. Therefore, the central bank influenced the asset’s price and, most notably, continued to sell off the precious metal even after its price collapsed.
Gold price decline in March
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