Turkey: gold in action
By Alistair Hewitt
Head of Market Intelligence
Turkey, perhaps better than anywhere else, illustrates the broad role gold can play in modern society. At an average of 181 tonnes (t) per annum over the past 10 years, Turkey is the world’s fourth largest consumer of gold accounting for around 6% of global consumer demand, and we estimate that Turkish households have accumulated at least 3,500t of gold “under-the-pillow”.
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