The Central Bank of Turkey sold and swapped 60 tons of gold after the Iran conflict.

LootboxPhobia · 2026-03-26T17:54:58+00:00

The Central Bank of Turkey sold and swapped approximately 60 tons of gold within two weeks of the Iran war beginning, worth over $8 billion. Data shows that gold reserves decreased by 58.4 tons in mid-March, further intensifying downward pressure on gold prices.

LootboxPhobia

2026-03-26 17:54:58

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Investing.com - According to Bloomberg, the Central Bank of Turkey sold and swapped about 60 tons of gold within two weeks after the start of the Iran war, worth over $8 billion.

The latest data from the central bank shows that Turkey’s gold reserves decreased by 6 tons in the week of March 13 and by another 52.4 tons in the week of March 20. This reduction marks a significant decrease in the country’s reserves.

Sources familiar with the matter revealed that some gold was sold directly, while most was used for foreign exchange or lira through swap agreements.

These sales and swap transactions occurred within two weeks of the Iran war’s onset. These transactions have intensified downward pressure on gold prices.

The central bank’s reserve data shows that, during these two weekly reporting periods, gold reserves decreased by a total of 58.4 tons.

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