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Turkey wants the world's gold, with few questions asked
By Cagan Koc and Ercan Ersoy
Wednesday, December 11, 2019
Turkey is putting the finishing touches on a plan to loosen rules that govern the import of gold to one of the world's biggest consumers of the precious metal.
The Treasury is drawing up changes that would allow the certification and standardization of scrap or unregistered gold people may carry when entering Turkey, according to people with knowledge of the matter. It is working with Borsa Istanbul on the plan, which also includes the registration of gold brought without certification from the London Bullion Market Association, said the people, who asked not to be named because the plan is still confidential.
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The LBMA is an international trade association setting the standard for the global over-the-counter precious metal market in terms that range from purity and provenance to the way bars are traded. Borsa Istanbul, Turkey's only stock exchange, which also been overseeing the market for precious metals and diamonds since 2013, is an affiliate member of the LBMA. ...
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