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Turkey offloads 58 tons of gold amid $8 billion in sales, Sjuul Follings reveals

Turkey offloads 58 tons of gold amid $8 billion in sales, Sjuul Follings reveals
Turkey offloads $8 billion in gold

Turkey sold 58 tons of gold valued at more than $8 billion in a two-week period.

Sjuul Follings detailed that this single sale by Turkey exceeded the combined sales of every gold ETF in the world during the same timeframe. The move was linked to the ongoing Iran war, which has driven up energy costs, pressured the lira, and prompted the Turkish central bank to act.

Follings previously noted that Bitcoin remained in a trading range as liquidity risks continued, cautioning investors about positioning in crypto markets. In a separate report, he highlighted Strategy's purchase of 17,994 Bitcoin for $1.28 billion. The firm's total holdings now stand at 738,731 BTC, representing more than $56 billion in invested assets.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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