A Study on Perception of Financial Market Professionals in Turkey Towards Gold

Abstract

Gold becomes an important central bank reserve in Turkey, gold savings accounts and gold investment funds begun to increase with the increasing interest of the financial sector in last years. The risk appetite for gold is increasing both in Turkish and international financial markets. The importance of gold as a financial instrument is growing. Within this framework, the aim of this study is to analyze the perception of gold among the professionals in the Turkish financial market as a central bank reserve, a mean of payment and an investment instrument. The analysis was done by a survey made among the employees of the banks, broker firms and portfolio management companies in the Turkish financial sector, mainly among treasury departments, fund and portfolio managers. A perception score was calculated from the statistical data.