The “Communiqué on the Repeal of the Communiqué on Introducing Physical Assets in Gold to the Financial System” prepared by the CBRT was published in the Official Gazette.
With the new regulation, the previous notification published in the Official Gazette dated March 14, 2022 and numbered 31778 was abolished.
IT ALLOWED THE CONVERSION OF PHYSICAL GOLD INTO TL
The abolished regulation allowed real and legal persons resident in the country to include their physical gold in the financial system.
Citizens and companies could deposit their physical gold into their gold accounts at banks through authorized jewelers and refineries or by applying directly to bank branches.
These assets could then be converted into Turkish lira-denominated deposits and participation accounts. With the latest decision of the CBRT, the notification in question was abolished.
GRAM GOLD EXCEEDED 7 THOUSAND LIRAS AGAIN AFTER 4 MONTHS
The CBRT’s decision regarding gold coincided with a period when the markets were active. While the volatility in precious metals and energy prices continues in global markets, gram gold rose above 7 thousand liras again after a break of approximately 4 months.
The rise in the oil market also attracted attention. The barrel price of Brent oil reached 95 dollars.
