“Turkey”, the champion of buying “gold”, caught 565 tons, the largest in the world

Reporters reported that Turkey bought 23 tons of gold in January. As a result, Turkey remained the largest buyer of gold among global central banks in January. According to data from the World Gold Council, Turkey currently holds 565 tons of gold, the highest level ever.

Global central banks added a net 31 tonnes of gold to reserves in January. by increasing purchases by 16% from December.

The People’s Bank of China and the Central Bank of Kazakhstan were the second and third biggest buyers of gold, adding 15 tonnes and 4 tonnes respectively.

Bloomberg news agency reported that Turkey has been hoarding gold for months and was the world’s biggest buyer of gold last year. Gold remains a popular commodity among Turkish households who use it as a hedge against currency risks and inflationary pressures.