Turkey Posts Record Gold Demand in First Quarter: $4 Billion

According to data from the World Gold Council (WGC), gold demand in Turkey reached an all-time high of $4 billion in monetary terms in the first quarter of 2025. This figure marks a significant increase compared to the same periods in previous years. In a statement by the Council, the main reasons for this rise were cited as investors seeking a safe haven against inflation and geopolitical risks, as well as the need to hedge against depreciation in the local currency. In particular, demand for gold bars and coins showed strong performance in the first quarter. At a time when central bank gold purchases continue on a global scale, the interest of individual investors in gold in Turkey is noteworthy. The WGC report states that this record in Turkey's gold demand can be explained by uncertainties in the country's economy and investors turning to alternative assets in a high-inflation environment. Experts emphasize that the global rise in gold prices also supported demand, but the main driving force was local dynamics. In the coming period, gold demand in Turkey is expected to remain high depending on economic conditions. This is not investment advice.