Reuters: US Dollar Report: Turkey raises gold reserves by 18 pct in July-IMF

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Turkey raises gold reserves by 18 pct in July-IMF Aug 24th 2012, 22:19 Fri Aug 24, 2012 6:19pm EDT Aug 24 (Reuters) - Turkey's central bank raised its gold reserves by almost a fifth in July taking its total holdings to 9.3 million troy ounces, data from the International Monetary Fund showed on Friday. The IMF's monthly statistics report showed that Turkey's gold holdings rose by 18 percent or 1.4 million troy ounces. The reserve is worth $15.5 billion based on a gold price of $1,670 per oz. Spot bullion hit four-month highs on Thursday. Russia's central bank increased its gold reserves by around 0.6 million troy ounces last month, taking its total holdings to 30.1 million ounces, the bank said earlier this week. Other central banks with significantly smaller reserves - Belarus, Sri Lanka, Moldova, Ukraine, Kyrgyz Republic and Kazakhstan - added to their reserves in July, but the increases were incremental. Kazakhstan, which purchased 45,000 troy ounces, was the largest. Guatemala and Mexico sold a small portion of their stockpiles.

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