Will jewelers continue to buy and sell cut gold?

Istanbul Chamber of Jewelers (İKO) President Mustafa Atayık issued a written statement regarding reports in some media outlets claiming that "jewelers in all 81 provinces have decided to stop buying and selling cut gold."

Stating that there is no restriction on the buying and selling of refined/drawn gold that bears the name or logo of the producing refinery and jewelry firm, as well as the purity and non-counterfeitable special security patterns, Atayık commented, "In such a period when gold prices are high, it is important not to give credence to such reports shared without citing a source and to act with moderation."

"THE REPORT DOES NOT REFLECT THE TRUTH..."

Atayık noted the following:

"As a result of the research conducted on the subject, it is believed that this report was written based on the 'Precious Metal Tracking System' project of the General Directorate of the Mint and Stamp Printing House, but that it led to such a false perception due to incomplete information. In meetings held with officials from the General Directorate of the Mint, it was learned that this report does not reflect the truth and that drawn gold is outside the scope of the precious metal tracking system."