Between January and September this year, the total amount of gold stored by banks in the country reached 64.6 billion lire (about $11.3 billion), an increase of 67.3 percent over the same period last year and an increase of 26 billion lira, according to data. With global geopolitical risks heating up this year and a great deal of uncertainty in the market, investors have turned to gold risk aversion, and international gold prices have risen sharply. The price of gold denominated in the Turkish lira rose 14.1 per cent in the year to September.
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