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Updated 08:20 20/02/20

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Dramatic change in Turkey’s gold imports


Duncan Richardson, News Editor
10 Feb 2014, 2:51 p.m.

Following a dramatic fall in the value of the Turkish Lira and increased gold prices, Turkey’s gold imports slumped 80% in January to just 6 tonnes.

The falling value of Lira against the US dollar has made gold more expensive and as a result negatively effected gold demand.

The Turkish population have a long held tradition of purchasing gold as a hedge against currency debasement and is one of the world’s top 5 consumers of gold.

View original source at: Following a dramatic fall in the value of the Turkish Lira and increased gold prices, Turkey’s gold imports slumped 80% in January to just 6 tonnes. The falling value of Lira against the US dollar has made gold more expensive and as a result negatively effected gold demand. The Turkish population have a long held tradition of purchasing gold as a hedge against currency debasement and is one of the world’s top 5 consumers of gold.

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