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Turkey

Is Turkey The Snowflake That Unleashes The European Banking System Avalanche?

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by Claudio Grass on ClaudioGrass.ch Turkey’s debt problem, coupled with the plummeting lira, is arguably the most important risk factor for the nation’s economy. To make matters worse, far from it posing a threat just to Turkey itself, it also has the potential to inflict significant damage elsewhere too, starting with key economies in the […]

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Why Russia and Turkey Diversifying Into Gold May Signal A Bigger Global Shift

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Russia and Turkey’s moves out of U.S. debt and into the precious metal could be precursors of a bigger global shift. by Leonid Bershidsky of Bloomberg U.S. government debt and the world’s foreign exchange and gold reserves. Source: Bloomberg Since December 2017, Russia has cut its holdings of U.S. foreign debt by more than half. […]

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Turkey Uses Gold Bullion To Stabilise Its Currency And Economy

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by Simon Constable for Middle East Eye Turkey’s central bank has accumulated an additional 400 metric tonnes of gold since 2011 (Image via Wikimedia) Turkey’s economy has been in a tailspin with an inflationary currency, but the country is using something rare to help stabilise itself: gold. In late 2011, Turkey started to allow commercial […]

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Gold Surges To Record In Turkey and Other Emerging Markets as Currencies Collapse

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Turkey’s election angst, geopolitical risk and collapse of the lira is driving up demand for gold Turkish lira has collapsed versus gold and now the lowest on record (see chart) Significant demand for gold coins in Turkey and central bank has repatriated gold and added to gold reserves “Having the gold physically at home allows […]

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Gold Demand Falls In Q1 Despite Robust Central Bank and Investment Demand and Surging Demand In Turkey and Iran

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– Gold demand globally -7% in Q1, 2018 – Gold Demand Trends (WGC) – Gold ETF demand fell sharply year on year from very high levels but had 5th consecutive quarter of inflows – Investment demand was strong in the US where ETF holdings rose another 32.4 tonnes as “stock market volatility sparked US inflows” […]

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Weekly Briefing: Currency Wars – ECB Warns Re Trump, Russia and Turkey Buy Gold and BOE Bitcoin Warning

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Russian Central Bank Buys Gold 600,000 Ounces In January As Venezuela Launches ‘Petro Gold’ US-China Trade War Escalates As Further Measures Are Taken Bank Bail-In Risk In European Countries Seen In 5 Key Charts Bitcoin or British Pound ‘Pretty Much Failed’ As Currency?   News and Commentary Trump Currency Wars – ECB Warn (IrishTimes.com) Gold swings […]

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Turkey, Gold and the End of US Dollar Hegemony

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Turkey, Gold and US Dollar Hegemony Introduction Buy Gold and Lira, Sell Dollars To End “Economic Sabotage” – PM of Turkey Gold Imports to Turkey Surge 688% In December ‘Tough Turkey’ today Affinity for gold to save the day? Central bank gold demand Personal accumulation Country’s gold reserves Turkey Iran gold conduit Axis of Evil […]

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Gold To Gain as Global Markets Brace for Turmoil: Reuters Poll

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(Reuters) – A slowing global economy, stock market turmoil, delays to interest rate rises and potential U.S. dollar weakness are expected to boost average annual gold prices to their highest since 2013, a Reuters poll found. Gold will average $1,322 an ounce this year and $1,369 in 2020, the median forecasts returned by the poll […]

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SWOT Analysis:Venezuela Sells $400 Million Worth Of Gold Bullion

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By Frank Holmes via GoldSeek Strengths The best performing metal this week was palladium, up 3.52 percent as CPM Group noted that the price could climb to $1,800 on supply constraints. Gold traders and analysts switched from bullish to mostly neutral or bearish on the yellow metal this week, according to the weekly Bloomberg survey. […]

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World’s Central Banks Want More Gold – India May Buy 1.5M Ounces In 2019

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Royal Bank of India (RBI) may buy another 1.5 million oz this year according to OCBC Many other central banks including large creditor nations Russia and China are also adding to gold holdings via Bloomberg India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its […]

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