Gold Deposits Doubled: The Provinces That Bought the Most Gold
Gold Deposits Doubled: The Provinces That Bought the Most Gold
Gold deposits in Turkish banks saw a significant surge in the third quarter, nearly doubling compared to last year. According to BDDK data, gold deposits rose from 1.36 trillion lira to 2.71 trillion lira — an annual increase of 99%.
Provinces with the highest gold deposits
Istanbul ranked first with 907 billion lira in gold deposits, followed by Ankara with 310 billion lira and Izmir with 159 billion lira. Antalya and Bursa also recorded high levels after the major cities.
Provinces with the lowest gold deposits
Ardahan had the lowest gold deposits with 988 million lira, followed by Kilis (1.2 billion) and Hakkari (1.23 billion). Bayburt and Tunceli were also among the lowest.
Gold’s share in total deposits increased
The share of gold deposits in total bank deposits rose from 8% to 11% year-on-year. Out of 24.8 trillion lira in deposits, 2.7 trillion belonged to gold accounts.
Individuals hold 91% of all gold deposits
Data shows that 91.3% of gold deposits are held by individuals, amounting to 2.48 trillion lira, while corporations hold 8.7% totaling 235 billion lira.
Rize shows the highest yearly growth
Rize recorded the largest annual increase in gold deposits at 177%, followed by Ankara, Istanbul, Antalya and Kayseri, all exceeding 100% growth.
Gold deposits of non-residents increased sharply
Gold deposits held by non-residents rose from 36 billion lira to 87 billion lira — an increase of 141%. Of this, 82 billion lira belonged to individuals and 5 billion to corporations.
