Are the gold reserves in the UK safe? A striking question from an AKP MP

During a presentation held at the Grand National Assembly of Turkey, a notable dialogue regarding gold reserves took place between AKP Uşak MP İsmail Güneş and Central Bank of the Republic of Turkey (TCMB) Governor Fatih Karahan.

According to Halk TV, Güneş directed questions regarding the security of Turkey's gold reserves held at the Bank of England.

"I AM CONCERNED ABOUT FUTURE PROBLEMS"

İsmail Güneş recalled that during Berat Albayrak's tenure as Minister of Treasury and Finance, a portion of the gold held in the UK was brought to Turkey.

In his speech, Güneş cited the example of warships that were not delivered by the UK before World War I despite being paid for, and stated the following:

"During the Berat Albayrak era, a portion of the gold in the UK was brought back. How much gold do we have in the UK now? Why do we keep it there? Considering that the ships we paid for before World War I remained in the UK, I am concerned about whether this money could remain with them in the event of any future adversity. Do you have any efforts to bring this gold back?"

"HELD FOR INTERNATIONAL TRANSACTIONS"

In his response to the question, TCMB Governor Fatih Karahan stated that a portion of the gold reserves is kept abroad so that it can be used in international market transactions.

Karahan noted that the amount in the reserves can change periodically depending on location swap transactions. However, he did not share a clear figure regarding the total amount of gold located in the UK.

THERE ARE 119 TONS OF GOLD IN THE UK

According to data not disclosed by Karahan, it is stated that the amount of Turkey's gold held at the Bank of England is 119.2 tons as of the end of 2025.

It was stated that this figure is included in official reports.

"INTERVENE IN GOLD PRICES AS WELL"

İsmail Güneş also made other assessments regarding economic policies during the meeting.

Stating that the Central Bank limits the demand for foreign currency by suppressing the exchange rate, Güneş noted that citizens have turned to gold this time. 

News Source: 12punto