Mineweb Watchlist

To save your Watchlist, log in to Mineweb.com. You may proceed without logging in but all changes will be saved to cookies - this may only last for one browsing session depending on your device settings.

FAST NEWS

Turkish gold imports expected to rise by 50% in 2011

According to TEB's director of gold banking, Selami Erten, imports of the yellow metal in the country are expected to increase to 60 - 70 tonnes this year

Posted: Friday , 18 Mar 2011

ISTANBUL (Reuters) - 

Gold imports into Turkey, the world's fourth-biggest gold consumer, are expected to rise by around 50 percent in 2011 and jewellery exports by 15-20 percent, a Turkish gold banker said.

Turkey's gold imports rose to 42.49 tonnes in 2010, up 13 percent from the previous year. Jewellery exports reached a value of $1.2 billion.

"We expect Turkish gold imports to increase to 60-70 tonnes, and gold jewellery exports to rise 15-20 percent this year," Selami Erten, director of gold banking at TEB told Reuters.

Gold imports soared earlier this year as investors bought the precious metal in anticipation of further price rises and as Turkey's central bank cut interest rates.

Gold XAU= was trading near $1,400 an ounce on Thursday, down slightly after striking a record last week on rising oil prices due to violence in Libya and a downgrade of Greece's credit rating.

Erten said a significant fall in gold prices was unlikely before global uncertainties were eliminated.

(Reporting by Behiye Selin Taner and Birsen Altayli, editing by Jane Baird)

© Thomson Reuters 2011 All rights reserved

 

Tags: mining, metals, mining and metals, investment, turkish gold imports, teb, selami erten

SUBSCRIBE to Mineweb.com's free daily newsletter now.

Disclaimer

MINEWEB is an interactive publication, with rolling deadlines through each day, commencing in the Sydney morning,  and concluding, 24 hours later,  in the Vancouver evening.  If you believe your side of an issue deserves inclusion, but has failed to meet one of our deadlines, you are invited to notify the Managing Editor, and we will include you in our editing and expanding on our stories. Email him at geoff@mineweb.com

10 May 2013


BackBack

Metals Prices

Top Gainers

Company Price Gain
BONTERRA RES0.010 CAD+100.00%
NWM MNG CORP0.010 CAD+100.00%
WHITE BEAR R0.42 CAD+68.00%
GLDEN DORY R0.07 CAD+62.50%
ARGONAUT EXP0.02 CAD+50.00%

Browse complete mining stock gainers/losers list

Losers

Company Price Loss
ANGLO SWISS0.005 CAD-66.67%
ALDERSHOT0.005 CAD-50.00%
MUKUBA RES L0.005 CAD-50.00%
QUIA RES0.005 CAD-50.00%
ARCTURUS VEN0.02 CAD-42.86%

Browse complete mining stock gainers/losers list

Companies and Precious Metals' quotes delayed by at least 15 minutes.
Base Metals data is previous day pricing.

Upcoming Conferences
More 



Share your feedback

Thank you for visiting Mineweb.com. We are conducting a quick three minute survey to help better understand our visitors. All responses are anonymous and for research purposes only.

NEXT ON MINEWEB X