Türkiye Leads OECD in Gold Reserve Growth, Holdings Approach $134B

February 19, 2026 | Fides Global Bullion Newsroom

Market Snapshot

• Gold: $5,185/oz

• Silver: $63.25/oz

• Trend Diagnosis: Accelerating sovereign accumulation reinforces gold’s structural role in reserve diversification and currency stabilization strategies.

Key Development

According to data from the Central Bank of the Republic of Türkiye, Türkiye’s official gold holdings are approaching $134 billion as of January 2026, marking the fastest reserve growth among members of the Organisation for Economic Co-operation and Development over the past five years.

The rapid buildup reflects a deliberate strategy to strengthen balance sheet resilience amid currency volatility and evolving global monetary dynamics.

The Why

Several strategic drivers underpin Türkiye’s accumulation:

• Reserve Diversification: Reducing reliance on USD- and euro-denominated assets.

• Currency Stabilization: Gold acts as a balance sheet buffer during lira volatility.

• Geopolitical Hedging: Mitigating exposure to sanctions risk and cross-border financial friction.

• Domestic Confidence: Reinforcing public trust in monetary stewardship.

Sovereign demand has been one of the most durable pillars of the global gold bull market, often providing a structural price floor independent of speculative flows.

What the Market Is Missing

• OECD-level accumulation signals that gold demand is not confined to emerging markets.

• Persistent central bank buying tightens long-term float supply, influencing structural pricing.

• Official sector demand is typically less price-sensitive, reinforcing medium-term support during corrections.

Forward Outlook (Next 5–7 Days)

1. Scenario: Continued Sovereign Accumulation

   • Condition: Ongoing FX volatility or geopolitical uncertainty.

   • Impact: Reinforced structural demand; shallow price pullbacks.

2. Scenario: Tactical Pause in Buying

   • Condition: Stabilizing currency conditions or fiscal recalibration.

   • Impact: Minimal near-term effect; long-term trend remains intact.

Cross-Market Signal

• Central bank gold purchases often correlate with declining trust in fiat reserve concentration.

• Watch emerging market FX reserves composition for similar diversification patterns.

• Sustained sovereign demand can offset ETF outflows or speculative liquidation phases.

Strategic Overlay

Missed Opportunities (Where Markets Are Complacent)

• Underestimating the scale and persistence of official-sector demand.

• Viewing reserve growth as cyclical rather than structural.

Strategic Implications (If Executed Well)

• Reserve Allocation: Align long-term exposure with sovereign accumulation trends.

• Hedging: Recognize central bank demand as a downside stabilizer.

• Portfolio Protection: Incorporate structural buying into medium-term price modeling.

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