Investors' new direction! Demand for gold certificates is rising
Investors in Turkey are turning to gold certificates, creating a new trend on Borsa Istanbul. Ease of digital access and tax advantages make these certificates attractive.
12punto
While Turkey ranks among the top countries globally in gold consumption, investors are showing great interest in gold certificates traded on Borsa Istanbul.
The certificates represent 0.01 grams of physical gold and are currently trading at a 21 percent premium. Rising global trade tensions and increasing gold prices since March have led investors to turn to these certificates.
Gold certificates stand out for providing easy access via mobile applications, low transaction costs, and tax advantages. Furthermore, the fact that these certificates can be converted into physical gold creates an attractive option for individuals seeking a safe haven.
Investment advisors, noting that the current price difference may not be permanent, stated, "This demand reflects more speculative investors trading through the stock exchange and does not represent actual physical demand."
Introduced to the market in 2022, gold certificates were launched by the state with the aim of bringing individuals' "under-the-mattress" savings into the financial system. The certificates aim to appeal more to digital investors rather than traditional markets. While imports are utilized in cases where domestic production cannot meet demand in Turkey, the Central Bank holds priority purchase rights over this gold.