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Turkish investors flock to gold amid Middle East turmoils

From english.news.cn

Faruk Mutlu, a Turkish citizen, stepped into a bustling jewelry store in Türkiye's vibrant city of Istanbul. Armed with his savings, he resolved to convert them into gold, an alternative he deems "always valuable." With the escalating tensions in the Middle East at the beginning of last week, rumors swirled of an imminent rise in gold prices, prompting Mutlu to seize the opportunity. "In Türkiye, it's a cherished tradition to bestow gold upon newlyweds, and with the summer wedding season fast approaching, our demand for this precious metal is soaring," Mutlu told Xinhua. In Kuyumcukent, a neighborhood in ... (full story)

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  • Category: Fundamental Analysis