Is GOLD Cheap In Turkey? | 4 Tips For Buying Gold In Turkey

Is gold cheap in Turkey? Gold is one of the world’s most expensive and valuable metals, which is used for trade and investment. Also, throughout the world, gold is a suitable metal for producing jewelry. The price of gold depends on many factors, including global supply and demand, economic developments, monetary policies, currency value changes, and many other cases.

However, the price of gold may be lower in some countries than in others. Turkey is one of the most important gold markets in the world. People of this country are very interested in buying gold for investment, which is a financial tool for them. But the question for foreigners is whether is gold jewellery cheap in Turkey. In this article from the Travelling Topic website, we discuss the details of buying and selling gold in Turkey.

Is gold cheap in Turkey?

In October 2023, the price of one gram of gold in Turkey is about 58 dollars, the same as in other first-world countries.

You should know that the price of gold in Turkey is also affected by the price of lira against the dollar, and for this reason, it may have a slight difference with other countries.

But you should know that the cost of turning gold into jewelry in Turkey is lower than in the United States due to cheaper labor. Turkish youths turn formless gold into beautiful jewelry with their skills and creativity, and you can buy them in Turkey.

Is gold jewellery cheap in Turkey?

 The low cost of labor in Turkey, the presence of gold, silver, and copper mines, as well as access to pearls and precious stones used in making jewelry, and finally, the possibility of ordering jewelry with a desired design at a low price, have caused the price to be reduced. Jewelry in this country is cheaper than many places in the world. Also, the high skill of Turkish jewelers makes exceptional and exquisite jewelry to be produced.

If you decide to buy jewelry in Turkey, you can buy second-hand jewelry. Some people sell their jewelry at a lower price, and you can buy it for less.

 It is interesting to know that there is jewelry for all tastes, such as necklaces, rings, and bracelets, to buy in stock. They are decorated with precious and beautiful stones.

We suggest that you go to Istanbul on your trip to Turkey. Read articles on where to exchange money in Istanbul and brands in Istanbul for convenient shopping in this city.

Where to buy gold in Türkiye?

 There are many options for buying gold in Türkiye because many shops in Turkey buy and sell unique jewelry, which is called Kuyumcu in Turkish. Also, in Turkey, you can buy from famous international brands.

In addition, you can buy gold online from gold refineries and gold production companies. You can buy gold directly and online in Turkey by using Turkish online shopping sites that sell all gold products as bullion or currency. For example, you can do this through the Gram Altin site, the Nadir Refinery through the Nader Gold site, and the Harem Refinery through the Harem Altin site and the Yatirimim site.

You can also buy gold from some Turkish banks. Most of them allow you to buy electronic gold in your bank account. Turk Kuveyt Bank allows buying gold directly from the bank and receiving gold bars or coins quickly.

If you have decided to buy jewelry in Turkey, you can go to Istanbul Grand Bazaar because many shops there even sell second-hand jewelry.

If you travel to Istanbul, visit Cevahir Passage because the most luxurious jewelry brands have branches in this shopping center.

Where to sell gold in Türkiye?

There are many ways to sell gold in Türkiye. You can go to reputable Turkish jewelry stores and sell your gold and jewelry.

You can also deposit your gold in the bank and sell it online through the internet bank. After the instant sale of your gold to the bank, you will receive the money in Turkish lira or US dollars in your bank account.

ThinkThe best place to buy or sell gold and jewelry is Istanbul Grand Bazaar because there are many shops there that will buy your gold at a reasonable price.

Tips for buying gold in Türkiye

• If you do not have enough skills in buying and selling gold, they may give you gold with unrealistic value. They may even have used fake gold to make them. In this case, you will lose. So be sure to consult a person who is skilled in this work.
• To buy gold in Turkey, be sure to buy from reputable gold shops with stamped invoices.
• If you are unfamiliar with the rules of buying and selling, importing and exporting gold and jewelry in Turkey, it is better to avoid any gold transactions while traveling. Because you may unintentionally be in the way of moving stolen cargo or money laundering.
• If you want to buy ornamental gold for personal use from Turkey, pay close attention to its value. Ornamental gold in Turkey is often made with 20 and 22 karats. Also, low 14-carat gold is standard in Türkiye.

To wrap it up

In this article from the Traveling Topic website, we discussed whether is gold cheap in Turkey or not, and then we came to the conclusion that even though the price of gold in this country is the same as in other countries of the world, you can still buy jewelry at a low price. In the end, we mentioned that before buying gold from any country, it is essential to carefully examine the local market and the laws related to importing and exporting gold in that country and from reliable gold buying and selling places.

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