News zum Sektor Metalle / Bergbau aus Türkei

 

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 indeed, the latest central bank data showed that Turkey's foreign reserves had their biggest monthly decline on record in March, as the Iran war triggered global selloffs in emerging market assets and strained the lira. According to balance-of-payments data released on Wednesday, Turkey's official reserves cratered by $43.4 billion in March. Part of the decline reflected state intervention to offset portfolio outflows. The current-account deficit, meanwhile, widened to $9.7 billion in March from $7.3 billion in Feb...

Der Ruf des Edelmetalls als sicherer Hafen in Krisenzeiten hat während des Irankriegs gelitten. Allein im März verlor Gold so stark an Wert wie seit 18 Jahren nicht mehr. Ein Grund dafür sind allerdings auch Verkäufe von Zentralbanken....

Die Türkei prüft offenbar den Einsatz ihrer Goldreserven zur Stabilisierung der Lira. Das könnte auch Auswirkungen auf den internationalen Goldmarkt haben....

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...

Turkey's central bank sold and swapped about 60 tons of gold, worth more than $8 billion, in two weeks after the start of the war in Iran, adding to downward pressure on bullion prices....

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Turkey's central bank is preparing an expanded toolkit to defend the lira from Iran war-related volatility that includes potentially tapping its vast gold reserves, according to people familiar with the matter....

'Eight-figure agreement' made to supply new line between Ankara and İzmir – but questions over plant's future remainBritish Steel has secured an order worth tens of millions of pounds to supply rail for a high-speed electric railway in Turkey, amid continuing uncertainty over the long-term future of the government-controlled steelworks in Scunthorpe.The site will supply 36,000 tonnes of rail to ERG International Group, the company announced, in what it called an “eight-figure agreement”. Continue reading......

First Quantum Minerals Ltd. is looking to sell its copper and zinc mine in Turkey as it seeks to strengthen its balance sheet, according to people familiar with the situation....

The owners of Turkey's biggest open-pit copper mine mandated Goldman Sachs Group Inc. to sell the business following a record run for the industrial metal, people with knowledge of the matter said....

Turkish officials are again blaming the people's hidden treasure for economic woes. Sceptics are targeted with bogus science....

Observers point to intra-regime gangs seizing each other's wealth, remember Erdogan's “Hello Fatih” phone calls and ponder whether wanted man Turgay Ciner is in London....

A rally in gold prices is lifting the wealth of Turkish households by billions of dollars, complicating the central bank's efforts to rein in prices....

Canadian miner Alamos Gold Inc. agreed to sell its Turkish assets to local conglomerate Nurol Holding for $470 million, offloading a portfolio that's been at the center of a $1 billion legal claim....

CANBERA (dpa-AFX) - Alamos Gold Inc. (AGI, AGI.TO) announced that its wholly owned Netherlands subsidiaries, Alamos Gold Holdings Coperatief U.A. and Alamos Gold Holdings B.V., have agreed to sell......

Turkey's Nurol Holding is seeking to buy Alamos Gold Inc.'s local mines in a deal that could bring an end to the Canadian miner's $1 billion claim against the government for alleged mistreatment....

Announcing a wave of industrial action over pay, union chiefs say workers no longer trust the official inflation data....

At the same time, the Onur Group holding still hopes for a graphite deposit in the Khmelnytsky region in western Ukraine...

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Soaring gold prices are prompting Turkish households to convert their bullion savings into big-ticket purchases, especially homes and cars, according to a new study by the country's central bank....