Turkey's Gold Futures Trading Doubled During the Currency Crisis
One thousand gram gold bars are arranged for a photograph at the Istanbul Gold Refinery in Istanbul, Turkey, on Thursday, Aug. 18, 2011. Venezuelan President Hugo Chavez ordered the central bank to repatriate $11 billion of gold reserves held in developed nations' institutions such as the Bank of England as the metal rises to record levels behind a weakening U.S. dollar.MoreFirst Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he says sell. Add dramatic swings in the lira, and the country’s traders are now enthusiastically doing both.Gold futures volumes have surged on the Borsa Istanbul as ...
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