Turkey's central bank became the world's largest official gold seller in 2026, selling about 81 tonnes net to defend the lira
Jul 19, 2026
According to reports carried by Turkish media, Turkey's central bank has become the world's largest official seller of gold in 2026. Over the first five months of the year the bank sold about 81 tonnes of gold on a net basis from its reserves, using the proceeds to supply dollar liquidity and defend the lira against external shocks.
Pressure on the lira intensified after the Iran war began on February 28, 2026, and the resulting energy-price surge drove the currency to a fresh record low. The central bank first spent roughly US$26 billion of its foreign exchange reserves supporting the lira and, when that proved insufficient, turned to selling and swapping more than 127 tonnes of gold in the weeks that followed; its currency interventions peaked at close to US$60 billion.
Turkey's gold reserves had climbed to a record 823.5 tonnes in the week ending March 6 before starting to decline. The trend shows that, rather than serving as a safe haven during the war, gold became Ankara's defensive tool for containing the lira's slide. The lira is an important regional variable for Iran's market, since part of the trade and commodity pricing between the two countries is linked to it.
Media
Gold bars; Turkey's central bank sold about 81 tonnes of gold in the first five months of 2026 to defend the lira
Source
Türkiye Today
Related news
Spot gold edges higher on Tuesday, holding above $4,000 but still near a nine-month low
Spot gold edged higher on Tuesday, 30 Tir 1405 (21 July 2026), trading in a roughly $4,020 to $4,045 range depending on the source, about half a percent to one percent above the previous day. Despite the small gain, gold remained close to its lowest level in nine months. The main pressure on gold comes from firming expectations of a Federal Reserve rate hike: a jump in oil prices amid the Strait of Hormuz crisis has revived concerns about energy-driven inflation and pushed US Treasury yields higher. Gold pays no yield, so higher interest rates typically dim its appeal. Moves in the global ounce feed directly into domestic gold and coin prices in Iran, and from there into households' asset markets.
اقتصاد آنلاین · Jul 21, 2026
Gold and Coins Retreat on Tuesday, July 21; Emami Coin Near 182 Million Tomans, 18-Karat Gram Around 18.1 Million
Iran's gold and coin market edged lower on Tuesday, July 21, 2026 (30 Tir 1405). According to the daily Donya-e-Eqtesad, the full Bahar Azadi (Emami) gold coin traded at around 182 million tomans and the half coin at about 92.5 million tomans during the session, both slightly below Monday, July 20, when the Emami coin had ranged between 183 and 185 million tomans. A gram of 18-karat gold was priced at roughly 18.1 million tomans on Tuesday. The domestic pullback tracked a swing in the global gold ounce around the 4,000 dollar area (near its lowest level in several months) and a relatively calmer currency market, with the free-market dollar hovering around 189,000 tomans the same day. Domestic gold prices are a product of the global ounce and the exchange rate, and those two variables set the daily direction of the coin market.
روزنامه دنیای اقتصاد · Jul 21, 2026
Global gold slips to about $4,008 on Tuesday, near a nine-month low
Spot gold slipped to around $4,008 an ounce on Tuesday, 21 July, holding just above the $4,000 mark and near its lowest level in nine months. The metal is down about 4 percent over the past month. Even as the US-Iran war continues, the jump in oil prices has raised inflation concerns and strengthened expectations that the Federal Reserve will keep interest rates higher for longer, a factor that weighs on gold and has kept safe-haven buying tied to geopolitical tension from lifting prices. Silver held firmer than gold the same day. The global gold price is the main benchmark for Iran's domestic gold and coin market.
Mining.com · Jul 21, 2026
World Gold Council: central banks keep buying gold; gold becomes the world's largest reserve asset
According to the latest World Gold Council data in July 2026, official sector demand for gold has stayed strong in the opening months of the year, and the Council forecasts that the world's central banks will buy roughly 850 tonnes of gold in 2026. In its annual survey, 89% of reserve managers expect global central bank gold holdings to rise over the next 12 months, and a record 45% said their own institution's reserves would increase. In May, Poland added 18 tonnes (64 tonnes year to date), Kazakhstan 7 tonnes and Singapore 4 tonnes. Gold has now overtaken US Treasuries to become the world's largest reserve asset. This trend is a key pillar supporting the global gold price, which also drives Iran's gold and coin market.
World Gold Council · Jul 20, 2026