Turkey scrambles for gold, overtaking Russia as top buyer

Ankara's frictions with Washington fuel mad dash for the dollar alternative

20200720N Gold fingers REUTERS

Turkey has emerged as the world's largest buyer of gold for central-bank reserves this year. © Reuters

MISA HAMA, Nikkei staff writer

TOKYO -- Turkey has overtaken Russia as the world's largest purchaser of gold amid concerns that it could be barred from dollar settlements over cooling ties with the U.S.

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