Turkey Considers Using Gold Reserves to Support Lira

Turkey's central bank is reportedly exploring the use of its substantial gold reserves to defend the lira against volatility, particularly amid geopolitical tensions related to the Iran war. This potential move indicates a heightened concern over the currency's stability and the government's willingness to employ significant financial tools. Tapping into gold reserves is a drastic measure that could signal underlying economic pressures and attempts to regain market confidence. The effectiveness and implications of such a strategy remain to be seen.