Behind Turkey's Gold Sales: The Biggest Ever Plunge In Foreign Reserves

Behind Turkey's Gold Sales: The Biggest Ever Plunge In Foreign Reserves Shortly after the Iran war started, with gold unexpectedly tumbling, we showed that the reason behind gold's paradoxical move - after all, the precious metal has traditionally been a store of value in times of geopolitical stress - was the furious liquidation of gold by emerging markets, in this case Turkey, scrambling to obtain reserve dry powder so Ankara could cover soaring costs of energy imports. And ind...