Turkey has thrown nearly 120 tons of gold in two weeks.

According to a report by Reuters recently, in order to cope with the energy supply shortage caused by the conflicts in the Middle East and the depreciation pressure on the Turkish lira, Turkey's gold reserves have decreased significantly by nearly 120 tons in the past two weeks, the largest biweekly decrease since 2013. Analysts say that the main purpose of Turkey's move is to maintain the stability of its national currency. Since the outbreak of the conflicts in the Middle East, global energy prices have risen sharply, and Turkey's energy is highly dependent on imports, leading to a sudden increase in foreign exchange payment pressure. At the same time, market risk aversion has increased, putting pressure on the depreciation of the Turkish lira, forcing the Turkish central bank to increase intervention efforts to support the lira exchange rate and improve market liquidity.