Entrusting your gold to a jeweler can be risky

Recent increases in grievances regarding gold left in safekeeping have prompted Istanbul Chamber of Jewelers President Mustafa Atayık to take action. Atayık emphasized that it is illegal for jewelers to accept or store gold for safekeeping, and stated that citizens should keep their gold in secure locations.

Reminding that the practice of keeping gold in safekeeping has been prohibited in the jewelry sector by legal regulations, Atayık stated that this practice was banned to prevent informality and money laundering. He added that the Ministry of Trade could impose severe fines if such violations are detected.

Atayık noted that the jewelry profession is based on trust, but that individuals entering the sector from the outside have recently abused this trust. He expressed that citizens leave their gold for safekeeping with promises of "high returns" and subsequently become victims.

THINGS TO CONSIDER WHEN BUYING GOLD

Atayık pointed out the importance of shopping from jewelers who are members of chambers and associations when buying gold. He stated that there are approximately 40 thousand jewelers across Turkey and that it would be safer for citizens to shop from jewelers they trust.

Emphasizing that one should be careful when buying gold online, Atayık said that some products may be uncertified and that this situation could put the consumer in a difficult position. He stated that as the Istanbul Chamber of Jewelers (İKO), they have developed the "İKO-güvenCE" label to prevent the sale of uncertified products and that companies carrying this label are reliable.

Atayık stated that products may be displayed differently in online shopping and that consumers should therefore be careful. He also noted that some major portal sites have stopped the sales of companies that do not have the İKO-güvenCE label, and that this is a positive development for consumers.

News Source: 12punto