Central banks bought the most gold by volume since 1967, according to the industry research firm, which also highlighted it was the largest amount since former U.S. President Nixon Richard’s decision to end the dollar’s peg to bullion in 1971. Source: CNBC
The United States has imposed sanctions on Iran’s central bank, U.S. President Donald Trump told reporters at the White House on Friday, nearly a week after attacks on oil facilities in Saudi Arabia that some U.S. officials have pinned on Tehran. Trump did not give any other details about the sanctions. U.S. Treasury Secretary Steven Mnuchin, also speaking to reporters, said the bank was Tehran’s last source of funds. Source Daily Sabah
The Turkish Foreign Ministry on Thursday warned Greek Cyprus not to commission hydrocarbon exploration on the Turkish continental shelf in the Eastern Mediterranean. Foreign Ministry Spokesman Hami Aksoy responded Thursday to questions about Greek Cyprus’ signing of deals with France’s Total and Italy’s Eni to carry out exploration in the so-called Block 7, which includes a section of Turkey’s continental shelf. Source Daily Sabah
Germany’s second-largest lender Commerzbank said Friday it plans to cut the equivalent of 4,300 full-time posts, one-tenth of its workforce, and shutter 200 branches in a fresh bout of restructuring. Source The Local
