Turkey Sells 60 Ton Gold: Turkey sold 60 tons of gold due to the Middle East war, causing a stir in the global gold market. Find out why these countries are selling gold?
Muskan Kumawat Verified Local Voice • 13 Apr, 2026Journalist
The war in the Middle East is now having a direct impact on the global economy. As tensions between countries increase, many countries are using their gold reserves to buy arms.
First, news broke that Poland might sell 60 tons of gold. Then, it was announced that Russia plans to increase its defense budget by selling 15 tons of gold.
Turkey also took a dramatic move by selling 60 tons of gold in just two weeks. This sale amounts to 8 billion dollars or 76,000 crores of Indian rupees.
Turkey Central Bank's sale of 60 tons of gold, also called the Turkey Gold Reserve Sale, has had a direct impact on the global gold market. This is evident in the price and behavior of investors.
The Turkish Central Bank has created a stir in the global gold market by selling approximately 60 tons of gold, and its impact is clearly visible on prices and investor strategies worldwide.
Notably, central banks have previously been considered major buyers of gold, but this move by Turkey signals a shift in trend.
The gold market was already under pressure. After the Iran war, gold did not operate as a traditional 'safe haven' but fell like the stock market. During this period, prices fell by approximately 15%. However, Turkey's sale further increased this pressure.
However, despite this setback, gold recovered on Friday, reaching above $4,500 per ounce (gold price today). Intraday, it reached $4,550 (gold rate today), indicating strong buying after the decline.
It's also important to understand why Turkey sold gold. Crude oil prices have risen due to the Iran war, putting pressure on energy-importing countries. Central banks are selling their gold reserves to meet dollar needs and support the economy.
Experts believe Turkey may not be alone. If other countries take similar steps, global demand for gold could weaken. This will increase pressure on prices, and central bank purchases, which have been a major driver of gold's rise, could slow.
This will also impact investors. Until now, people believed that central banks held gold for long periods and did not sell it. However, Turkey's action has shaken this belief.
Global markets are already facing several pressures, such as high interest rates in the US, a strong dollar, and geopolitical tensions. If central banks also begin selling, gold volatility could increase further.
Overall, Turkey's sale of 60 tons of gold is not just a decision by one country, but a major signal for the entire market. Gold's future direction will depend on whether other countries follow suit.
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