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Iran sells natural gas to Turkey and receives payment in Turkish lira, which are then used to purchase gold bars in Turkey.
FORBES: Move up http://i.forbesimg.com t Move down
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Money and gold were moving into Turkey out of Europe, Christian said.
FORBES: FOCUS: CPM Group: Turkey's Rules On Gold Deposits Could Mean 'Rehabilitation' Of Metal As Monetary Asset
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Eldorado Gold is a gold producing and exploration company with gold assets in Brazil and Turkey.
FORBES: 7 Gold Stocks To Buy And Trade
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The International Monetary Fund reported overnight that Russia, Turkey and other Asian nations increased their official gold reserves in March.
FORBES: A.M. Kitco Metals Roundup: Comex Gold Solidly Higher On Technical Buying, Weaker U.S. Dollar Index
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Buying by investors has more than made up for a slump in gold-jewellery purchases in key markets, such as India and Turkey, where higher prices and wilting exchange rates have crushed demand.
ECONOMIST: Burnished by bad news, gold looks like a good each-way bet
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Electrum, an alloy of gold and silver, was used to make coins in Lydia (now western Turkey) in around 650BC.
ECONOMIST: Free exchange
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The International Monetary Fund (IMF) reported in its monthly statistics that Turkey, Korea, Russia, Kazakhstan, Ukraine and Kyrgyz were buying gold in July.
FORBES: Figuring Out Why Gold Tumbled When It Should Have Soared
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Turkey's government is trying to persuade Turks to transfer vast personal holdings of gold to the country's banking system, as it faces a bloated current-account deficit.
WSJ: What's News
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Last November, Turkey's deputy prime minister confirmed suspicions among many economists that a surge in Turkish gold exports to Iran was basically an oil-for-gold trade to circumvent sanctions blocking Tehran from international electronic transactions.
CNN: STORY HIGHLIGHTS
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The women's 10, 000m was comprehensively won by Turkey's Elvan Abeylegesse , who earned the country's first-ever European Championships gold medal.
BBC: European Athletics: Lemaitre beats Chambers in 100m