A new era begins in gold purchases

With the approach of the summer months, there is notable activity in the gold market. The gradual decline in gold prices, which is closely followed by couples planning to marry, has increased interest in jewelry stores. Following the record levels seen in April, the drop in prices in May has provided an opportunity for many families who were forced to postpone their shopping. The increase in demand for quarter and gram gold is creating a surge in activity at local jewelry shops.

According to a report in Türkiye Gazetesi, jewelers state that there is an increasing trend toward products such as investment gold and bracelets without workmanship. Muhammed Ersöz, a jeweler in Istanbul's Grand Bazaar, points out that customers are opting for gram gold, quarter gold, and bracelets without workmanship instead of jewelry requiring high labor costs in order to use their budgets more efficiently. Ersöz noted that the easing of prices has positively influenced the decisions of couples preparing for marriage.

Luxury and ornate models, which were prominent in traditional jewelry shopping, have begun to be replaced by simple products with higher investment value that are easier to resell. Due to rising labor costs in recent years, "ajda" bracelets without workmanship, as well as Republic gold and full gold coins, are regaining their appeal. Couples are now considering not only aesthetics in their jewelry choices but also the concern of not incurring losses when they sell them in the future.

Shopping habits have also changed following the limitations imposed by banks on credit card installments and cash advance limits. Purchases that were postponed when gold prices were at their peak have now brought promissory note-based shopping to the forefront at local jewelry stores, driven by new price levels and the increased need for deferred payment options. Many jewelers have begun to offer gold to trusted customers with promissory notes for a few months. Through this practice, the traditional trust-based payment model is being revived, allowing citizens to manage their wedding shopping more easily from a financial perspective.

With the wedding season fully underway, it is anticipated that activity will increase in the coming weeks, particularly in the Grand Bazaar and at local jewelry stores. Jewelers believe that the demand for gold will continue to rise throughout the summer.

News Source: 12punto