BREAKING: Turkey’s Central Bank Just Dumped 58 Tons of Gold in Just 2 Weeks.

In a shocking move, Turkey sold off 58 tons of gold — worth more than $8 billion — over the past two weeks alone.

6 tons were sold in the week ending March 13th
A massive 52 tons followed in the week ending March 20th

This brought Turkey’s total gold reserves down to 513 tons, marking the largest weekly drop in 7 years.

More than half of the gold was used in swap agreements to borrow US Dollars, while the rest was sold directly on the open market. These sales even exceeded the combined outflows from all global gold-backed ETFs during the same period, making Turkey the single largest gold seller in the world right now.

This aggressive selling comes as the Turkish lira faces intense pressure. Surging energy import costs and rising demand for US Dollars have forced the central bank to burn through its foreign exchange reserves — which have dropped nearly $40 billion to $175 billion, the lowest level since Q3 2025.

Bottom line: Rising energy prices are forcing Turkey to liquidate gold to defend its currency.

When even central banks start dumping gold to survive, it sends a clear warning signal about the underlying stress in the global financial system.

This is not normal behavior — and it’s happening while many investors are still rushing into gold as a “safe haven.”

Follow for more updates on gold, central bank actions, and what this means for the broader market.