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Government Clamps Down on Jewelers Amid Soaring Gold Demand

TURKEY
  • Signs of continued dollarisation & reduced TRY demand In Turkey as Govt clamps down domestic jewellers amid soaring gold demand
  • Measures include requiring jewellers to apply to the Trade Ministry for permission to continue operating.
  • They must agree to refrain from conducting any other transactions, to show they have no debts to the tax authorities and that they belong to an approved trade organisation.
  • A draft measure that would have required companies to deposit half a kilo of gold with state-run banks has been dropped
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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