Country after country in emerging markets are suffering as the US dollar rickets higher in comparison to their currencies. This has resulting in disruptions and dismay throughout large numbers of struggling nations, unable to cope with the the pace of devaluation. Many have turned to selling their gold reserves in response to their liquidity requirements, showing their desperation during these times.
Turkey Banks Tap $4.5 Billion Gold Reserves to Shore Up Finances
https://www.bloombergquint.com/business/2018/09/14/turkey-banks-tap-4-5-billion-gold-reserves-to-shore-up-finances#gs.31_ESh8
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