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26.03.26 - 19:31
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Turkey Dumped 58 Tons Of Gold After Iran War Started, Slamming Price (ZeroHedge)
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Turkey Dumped 58 Tons Of Gold After Iran War Started, Slamming Price
There has been much speculation about the mystery seller(s) that sent gold sliding into a bear market from its January high: was it a sovereign seeking to plug holes in their budget from the recent surge in oil, a "market maker" trying to spark stop loss liquidations, or just retail investors taking profit after one of the best years in history for the precious metal?
Today we learned the identity of at least one of the sellers: Turkey's central bank sold and swapped about 60 tons of gold, worth more than $8 billion, or more than 10% of the country's total holdings, in two weeks after the start of the war in Iran, adding to the sharp downward pressure on bullion prices.
Turkish gold reserves showed a decline of 6 tons in the week of March 13 and another 52.4 tons in the week of March 20, marking a sharp drawdown in reserves, according to the latest data published by the central bank. While the composition of the s...
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25.03.26 - 03:36
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Turkey′s biggest private bank plans Hong Kong entry amid Middle East tensions: sources (SCMP)
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Turkey's largest private bank plans to set up a Hong Kong office, according to sources familiar with the matter, in a move that underscores the city's role as a gateway for lenders seeking to connect China and Asian markets with the Middle East.
Turkiye Is Bankasi's board approved the Hong Kong expansion plan two months ago and the lender was awaiting clearance from Turkish authorities before formally approaching the Hong Kong Monetary Authority for a banking licence, the sources said.
If......
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24.03.26 - 15:51
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Iranian Missiles Pound Israel Overnight After US Claims Progress On Talks; Tehran Appoints Larijani Successor, Cuts Gas Flows To Turkey (ZeroHedge)
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Iranian Missiles Pound Israel Overnight After US Claims Progress On Talks; Tehran Appoints Larijani Successor, Cuts Gas Flows To Turkey
Summary
Backchannel diplomacy vs skepticism: Abbas Araghchi reportedly signaled openness to negotiations with the US via envoy Steve Witkoff, but Israel has appeared cool on deal prospects or offramp.
Heavy exchange of fire and testing red lines: Iran continues missile and drone waves targeting Israel and US bases, amid reports of overnight airstrikes on military and gas infrastructure near Isfahan.
Iran reshuffles its security leadership, appointing Mohammad Bagher Zolghadr: he's a former IRGC commander and replaces the assassinated Ali Larijani.
Iran halts natural gas exports to Turkey: follows last week's Israeli strike on the massive South Pars gas field.
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Iran & Israel Trade Blows Despite US Promoting Backchannel Talks
Despite the White House touting backchannel interactions with the Iranians as basis for some kind of peacefu...
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