ANALYSIS: CBRT Executes Historic $18 Billion Gold Drawdown Amid Regional Turmoil - P.A. Turkey

Central Bank of the Republic of Turkey executed a $17.97B gold reserve drawdown during Mar 13–20, 2026 (about 13.4% of total official gold holdings), including physical divestment of ~49 metric tons and an estimated 55% valuation decline attributed to a 7.87% drop in global gold prices amid regional turmoil involving Iran-related conflict Perigon signal context: impact negative, driver geopolitical.