Gold Investments in Turkey
In this article we will talk about the Gold Investments in Turkey .It is well known that the demand for Turkish gold is increasing in global markets due to its diversity, moderate prices, and high quality .
One of Turkey’s core. treasury inputs. and value is close to half of the central bank’s foreign reserves, and production capacity – which includes .extracted from the land and crude imported from abroad and manufactured in-house – has theoretically been estimated at 400 tons per year.
Turkey is ranked among the world’s top 5 markets! The gold sector provides jobs for more than 250 thousand people to work in the .mines and helps many of the largest companies within this sector, which is estimated to number about 50 major companies.
In 2020, the value of gold imported by Turkey .amounted to about US $ 26.6 billion, earning the world tenth place .in imports! Annual demand for gold has averaged 160 tons in the last 25 years.
The Central Bank of Turkey’s assets peaked at 606.6 tons in August for the same year. To retreat later.
Gold Production in Turkey
The gold industry is different from other. industries of materials and the main .difference lies in the high savings value of raw gold at the expense .of the manufacturer (manufacturing process) i.e. unlike the rest of the metals. Aluminum alloy weighing 10 ounces is about 2,000 dollars, while after processing and manufacturing it is 2800 dollars, i.e. the manufacturing price increases the price of crude by 28% and more.
But… In gold, the price of gold alloy with 10 ounces is different, for example, the price of gold alloy with 18,222 ounces and the price of .bracelets manufactured from 10 ounces of gold is estimated at 20 thousand dollars, i.e. the manufacturing ratio does not even reach 10%.
Therefore, the analysis of qualitative data provided by .third parties does not provide a literal assessment of the reality of Turkey’s gold industry, as opposed to the quantitative analysis that provides real and real results.
What is Turkey’s status as a gold importer?
As Turkey is a large importer of gold, domestic and domestic demand is very high and increased production is still unable to meet the. demand for many reasons. Most notably, sustained economic growth and performance in exchange for a significant move in the price of the Turkish lira. This has increased the demand for gold and raised its import as a saving material.
It must be realized that the storage of gold as savings is not customary in Turkish culture. Like some countries such as India, it has recently. taken on a national sentiment of. Turks, as people refrain from saving in Turkish lira. To fluctuate their value, put them in front of two options. Either saving in foreign currency or gold, they chose gold to avoid boosting the US dollar after sanctions were imposed on Turkey.
It is important to mention that the policy of. the Central Bank of Turkey stimulates the purchase of gold, the bank has decided to increase the stock and buy all the gold produced in Turkey.
Turkey is still weak when it comes to the area of capital infrastructure and the gold ore environment. Foreign investors can benefit from this advantage. by buying directly into licenses, expanding local companies as minority investors, or even targeting basic control of their boards and stocks.
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