Historic spread in gram gold

Gold prices have been recording a rapid rise in recent weeks. With this increase, the spread between the selling price of gold at banks and the selling price at jewelers has widened significantly. The spread on gram gold has risen to 250 liras, reaching a historic peak.

According to the report on Ntv, gold and money markets expert Mehmet Ali Yıldırımtürk made the following assessment regarding the price difference:

"Demand is also increasing as gold prices rise. When this situation is combined with limited gold imports and a market environment where there are only buyers, a price difference has begun to emerge."

According to Grand Bazaar merchants, the biggest reason for the price spread is the quota applied to gold imports. Jewelers are demanding that the import quota be lifted for a temporary period.

Suggesting that the quota application be lifted for a certain period, Yıldırımtürk said:

"Currently, quarter gold is trading at 2420 liras, and Republic gold is trading at 17 thousand 950 liras. Our proposal is for the quotas imposed on gold imports to be lifted for a certain period, for example, 1 month. This would mean that the difference will decrease and the price will fall."

News Source: 12punto