Where should you buy gold: From a jeweler or a bank?

Gold has long been seen as a "safe haven" for investors.

However, those planning to buy gold can remain undecided about which type of gold to choose and where it is more logical to buy it. Should one prefer gram gold, quarter gold, or jewelry items such as bracelets or necklaces?

Where is the price difference lower when buying gold; at a bank, a jeweler, or online?

According to a report on Ekol TV, gold, which has provided significant gains to its investors this year, has become a pleasing option compared to other investment vehicles.

The yellow metal, which has gained nearly 50 percent in value since the beginning of the year, has made turning to gold more attractive than foreign currency or the stock market.

One of the important points when buying gold is that the buy-sell spread (the margin) should be low.

While the spread for gram gold at jewelers generally varies between 30-40 liras, this difference can double at banks. It is stated that for online purchases, the spread for 24-karat gram gold can widen up to 300-400 liras.

Another question in the minds of investors is what type of gold should be purchased.

There is a difference of approximately 800 TL between 100 grams of 24-karat cut gold and the same amount of packaged gram gold. However, selling cut gold can be more troublesome.

A jeweler commented on the issue: “Some jewelers do not want to buy cut gold. When you buy packaged and certified gram gold, it is valid abroad just as it is in Turkey. You can easily sell this gold in countries like Germany and the Netherlands.”

Investors planning to buy gold are advised to prefer jewelers with low buy-sell spreads and to choose certified products.

Certified gram gold stands out as a safe and valid investment vehicle both domestically and internationally.

Investors should make their decisions by taking into account factors such as the buy-sell spread, product type, and certification when purchasing gold.