The unprecedented spike in the prices of gold in recent weeks has pushed the reserves of the Turkish central bank to a new peak, according to official data released on Thursday.
The official gross international reserves of the Central Bank of the Republic of Türkiye (CBRT) reached a new all-time high of $186.2 billion as of Oct. 3, according to the bank's weekly statistics shared on Thursday afternoon.
The reserves rose by $3.2 billion, from the previous week's $183 billion, the bank said. That also marked a record high at the time.
Foreign currency reserves – in convertible foreign currencies – were up 0.4% to $79.3 billion compared to the previous week.
The bank's gold reserves, including gold deposits and, if appropriate, gold swaps, climbed 3% to $99.2 billion in the same period.
The spot price of gold has risen above $4,000 per ounce for the first time earlier this week as investors turn to the precious metal amid global political and economic uncertainty.
The central banks around the world have also been building up their reserves this year due to mounting tensions and trade shifts following the introduction of tariffs by U.S. President Donald Trump.
Meanwhile, the central bank's IMF reserve position and special drawing rights ticked up 0.1% to reach $7.8 billion.
In the week to Oct. 3, net reserves have also surged from $72.7 billion to $75.2 billion.
Net reserves excluding swaps were up to $59.5 billion from $57.2 billion.
