The David Lin Report · Monday, June 29, 2026
Jeff Christian clarifies that gold sales by Russia and Turkey are not leading indicators for other central banks. Russia's sales are attributed to financing government operations and war efforts, while Turkey's actions were primarily to provide liquidity to the Istanbul gold market during a period of high trading volume.
“Right. The answer The answer to the second question is the best and most important, and the answer is Russia and Turkey's sales are not indicative of what other central banks would do.”
“Russia is Russia. They are selling gold because they need money both to finance their government operations and to finance their war effort.”
“So the central bank said we will sell you some gold and we will lend you some gold to give you the Istanbul gold market the liquidity you need.”