Turkish Gold imports hit the best yearly figures in 2017
Time:Wed, 24 Jan 2018 04:36:41 +0800
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Turkey’s gold imports hit a record high during the year 2017, reported Commerzbank.
Commerzbank analysts cited data from Borsa Istanbul showing Turkey imported 370 tons of gold last year, which was the highest yearly figure ever.
This was well up from 2016 imports of 100 tons. Nearly 50 tons were imported in December alone. Commerzbank quoted the consultancy Metals Focus as saying the government provided small enterprises with cheap credit to boost their business.
However, the money also appears to have been used to buy gold. Furthermore, the improved economic situation in Turkey has increased demand for gold. The Turkish central bank apparently also bought gold, Commerzbank added.
