Germany reduced gold holding and Turkey raised the amount of gold in October

Noted data from the International Monetary Fund on Friday that Germany has reduced its holdings of gold by 3.421 tonnes in October.

Germany is one of the first ten countries in the world in terms of gold reserves.

According to IMF data, the German central bank now has reserves of gold size 3387.25 tons

Turkey’s holdings of gold rose for the fourth consecutive month in October.

According to IMF data, the Turkish central bank increased its holdings of the precious metal in October by 12.994 tonnes to 503.255 tonnes.

And a series of increases in gold holdings due largely to the central bank last year allowed for commercial banks that retain a share of the gold within their reserves of cash in local currency