Turkey’s gold reserves quadruple in decade

ANKARA

Turkey's gold reserves increased by more than 300 percent compared with 2004 to 490.25 tons.

According to World Gold Council (WGC) data, the country had 116.1 tons of gold in the third quarter of 2004, and significant increases did not begin until the third quarter of 2011. 

The figures also reveal that the gold reserves of many emerging countries are displaying similar patterns as that of Turkey.

Benefiting from rising petroleum and natural gas prices, Russian reserves increased from 389.1 tons to 1,015 tons. 

While China increased its reserves by 75 percent from 600 tons to 1,054 tons in the last decade, India's reserves were also up from 357.7 tons to 557.7 tons in the same period.

However, the gold reserves of eurozone countries decreased 12 percent in a decade, shrinking to 10,782 tons.

englishnews@aa.com.tr