ISTANBUL
Türkiye imported a total of 273.3 tons of silver last month, a monthly record high in imports, as silver prices rose at an unprecedented level at the start of the year.
According to Turkish stock exchange Borsa Istanbul's precious metals market report, the country imported 273.3 tons of silver in January, surging from 31.55 tons in January 2025.
The figure was also up from December's 65.56 tons, according to the report.
Türkiye's gold imports this January totaled 7.79 tons, down from 9.65 tons in January 2025 and 10.92 tons in December.
Silver prices surged over 50% over January, buoyed by higher industrial demand, tightening physical conditions, and geopolitical tensions.
However, after hitting a historic high of $121.67 per ounce, silver prices have fallen more than 33% since the start of February, due to easing geopolitical tensions and falling expectations of a Fed rate cut.