Did Turkey's central bank trigger gold's sharp pullback? Nearly 50 tonnes sold in a week

A steep correction in gold prices may have been amplified by heavy selling from Turkey's central bank. The bank offloaded close to 50 tonnes of gold last week, its biggest weekly reduction since 2018, as it works to steady domestic markets in the wake of fallout from the Iran war. Since the conflict began, the central bank has sold more than $26B in foreign currency and gold.