Gold News

Business booming at Turkish gold exchange

Transaction volume at a gold exchange in Turkey has more than doubled in the last month, it has been revealed.

The Istanbul Gold Exchange saw gold bullion trading soar by 158 per cent in January compared with December, Turkish Daily News reports.

About $1.3 billion worth of gold transactions were made last month - helped by the power crisis at mines in South Africa, according to Osman Sarac, vice chairman of the exchange.

Other exchanges have also reported trading success in recent weeks, with the Shanghai Futures Exchange seeing success at the opening of its gold futures trading last month. The daily trading cap was hit by most gold contracts, the Shanghai Daily reported.

Meanwhile, Yukuji Sonoda of Daiichi Commodities told the Turkish Daily News that gold prices are expected to hit the $1,000 an ounce mark in June - potentially good news for those with gold investments.

To Buy Gold today, avoiding wide spreads and storage costs - but still owning your physical Gold Bullion Investment outright with full legal title - be sure to visit BullionVault and claim a free gram of gold now...

BullionVault-cube-18460511-ADNFCR

See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn

 

 

Market Fundamentals