Turkey’s history and culture for centuries. Turkey is one of the world’s leading producers of gold, with significant gold reserves located throughout the country. The Turkish government also encourages gold ownership by its citizens, which has led to the development of a robust gold market in the country.
The Istanbul Gold Exchange (known as Borsa Istanbul Precious Metals and Diamond Markets) is the primary hub for gold trading in Turkey. It was established in 1995 and is regulated by the Capital Markets Board of Turkey. The exchange facilitates trading in gold coins, bars, and jewelry, as well as other precious metals like silver and platinum.
The demand for gold in Turkey is high, driven by a number of factors. Turkish citizens have a long-standing cultural affinity for gold, and many view it as a safe investment and a hedge against inflation. Gold is also an important part of Turkish weddings and other celebrations, with families often giving gold jewelry as gifts.
In recent years, the price of gold has risen significantly, leading to an increase in the number of people investing in the metal. This has further fueled demand in Turkey’s gold market, with many investors choosing to buy physical gold or invest in gold exchange-traded funds (ETFs) on the Istanbul Gold Exchange.
Overall, Turkey’s gold market is an important part of the country’s economy and culture, with a long history of gold production and trading. The government’s support for gold ownership and the development of the Istanbul Gold Exchange have helped to create a thriving gold market in the country