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5,000 Tons Of Gold “Under The Mattress”
Osman Sarac of the Istanbul Gold Exchange, or IGE, has said, in response to questions on the rise of gold prices, Turkish people keep roughly 5,000 tons of gold worth 131,3 billion euros “under the mattress.”
Responding to questions on Turkeys under-the-mattress gold stock, Sarac said although gold’s monetary value disappeared following the foundation of the Republic, people have kept their habit of stashing gold.
The global gold stock is predicted to hit 163,000 tons in the future, Sarac said, adding that Turkeys privately kept gold stock constitutes 3% of the world’s total. Turkeys “under the mattress” gold stock forms a potential supply resource, Sarac said.
People holding gold assess their gold accumulation in accordance with their personal needs and can put the stocks into the market, he said.
In proportion to the country’s population, the predicted amount is calculated at around 70 grams per capita.
Source: ANSAmed
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