Is Gold Cheap In Turkey? Key Reasons Why + How to Buy & Sell

Published: 27 Feb 2025

Gold is a popular metal that many people invest in to secure future profits, and millions of jewelry lovers buy it to add a fifth star to their personality and style.

But there is one main issue

old is so expensive that everyone can not afford it.

Many gold jewelry lovers especially investors, think about how we can buy gold at the lowest price and can flip it with higher price tags to secure maximum profit margins.

And there is one main question that often arises in most people’s minds is;

Is gold cheap in Turkey

Guys, if you are also thinking so, don’t worry; I’m here to guide you through everything you need to know about gold prices in Turkey.

This guide explains whether gold is cheaper in Turkey, if yes then how you can buy it, and what factors affect its price.

So my dear, are you ready?

Table of Content

Is Gold Cheap In Turkey?
Is Gold Jewelry Cheap In Turkey?
Where to Buy Gold In Turkey?
Best Tips When Buying Gold.
Where to Sell Gold in Turkey?
What Factors Affect Gold Prices in Turkey?
Hey My Champs
More Queries?

Is Gold Cheap In Turkey?

Guys, the answer to your question about whether gold prices are down in Turkey depends on multiple factors including;

Global supply and demand
Currency Values
Local demand
And taxes of the country.

On 27 February 2025, when I checked, gold prices in Turkey were almost 3,455.53 Turkish lira per gram or 94.77 US dollars, which is just a few cents less than gold prices in the USA ($94.81).

So my dear, if you want to invest in Turkish gold, you might not get the same profit margins that you might think.

If you are an investor in gold, you should invest in Indonesian gold, which remains almost every time cheaper than in other countries.

Dubai also has cheaper gold prices than Turkey.

Is Gold Jewelry Cheap In Turkey?

Yes, most of the time, gold jewelry is available at lower price tags in Turkey as compared to the USA or other countries of the world.

This is because of many factors including;

Lower labor costs
Lower goldsmith wages
Big mines of gold and silver
Lower lira value (Turkish currency) against the dollar
Easy access to precious Stones that are widely used in making gold jewelry.

However, it’s important to note that while gold jewelry may be cheaper in Turkey compared to some countries, prices can still vary depending on the design, craftsmanship, and taxes like VAT.

For locals earning in lira, gold jewelry might not feel as affordable due to the weaker currency and economic factors.

If you’re a tourist or someone with a stronger currency, like from the USA, UK, or any other country that has a higher currency value than Turkey, you can get handsome benefits.

But still, a person who is from a country with a lower currency value than Turkey might not get benefits.

Second-hand gold jewelry is highly affordable for everyone. If you are currently in Turkey, you can buy cheap gold jewelry in Istanbul’s Istanbul Grand Bazaar.

Where to Buy Gold In Turkey?

There are hundreds of ways of buying gold in Turkey, as Turkish people love making, buying, and selling gold and jewelry.

If you plan to buy gold physically, I’d recommend you to visit Istanbul Grand Bazaar, where people sell every type of gold jewelry, from second-hand to new-brand ones.

However, if you want to buy gold online from Turkey, you can visit gold production companies and refineries that sell gold online.

You can buy gold from popular Turkish websites like,

I directly attached their links to the text so you can click and go.

However, one thing I tell you is if you want to buy gold digitally, like electronic gold. You can contact Kuveyt Bank of Turkey; they allow you to buy E-Gold directly to your bank account.

Best Tips When Buying Gold.

Always buy gold from reputable and certified shops, like those in Istanbul’s Grand Bazaar, and ask for stamped invoices to ensure authenticity.
Make sure to check whether the gold you are buying is real. The gold market is full of fake gold also. So, to check whether gold is real or fake, you can visit our guide, where I shared 8 proven ways of checking gold’s purity, including lighter tests.
Check the gold’s purity (karat value) and look for hallmarks or stamps to verify its quality before making a purchase.
Stay updated on the daily gold price and compare it with the shop’s offer to avoid overpaying or falling for unrealistic deals.
Avoid buying gold from unlicensed sellers or street vendors, as fake or stolen gold is a common risk in informal markets.
Keep all receipts and documentation, as they are essential for resale, insurance, or customs clearance when traveling.
If you’re unfamiliar with gold trading, consult an expert or trusted guide to avoid costly mistakes and ensure a smooth transaction.
Focus on the gold’s weight and purity rather than just its design, especially if you’re buying it for investment purposes.

Where to Sell Gold in Turkey?

If you’re looking to sell your gold in Turkey, you have multiple options and some of them are,

Gold Shops and Jewelers: you can visit famous gold shops or simply go to Istanbul’s Grand Bazaar, where they buy gold directly.
Pawnshops: These offer quick cash, but the prices might be lower than market value.
Banks: Some banks, like, Kuveyt Bank or Ziraat Bankası, buy gold coins or bars if you have proper documentation.
Online Gold Buyers: Convenient, but make sure to use trusted platforms to avoid scams.
Gold Exchanges: Best for selling large quantities, though they may require special permissions.

Pro Tip
Always check the current gold price, clean your gold, and negotiate for the best deal!

What Factors Affect Gold Prices in Turkey?

Gold prices in Turkey, like anywhere else, are influenced by a mix of global and local factors.

Here’s a breakdown of what drives these changes:

Global Gold Prices: Gold is traded internationally, so prices in Turkey are directly tied to global market trends. If gold prices rise or fall worldwide, Turkey follows suit.
Currency Exchange Rates: The value of the Turkish lira (TRY) against the US dollar plays a big role. A weaker lira makes gold more expensive for locals, while a stronger lira can lower prices.
Local Demand: Turkey has a strong cultural affinity for gold, especially for weddings, gifts, and investments. High demand can push prices up, especially during peak seasons.
Taxes and Fees: VAT (Value Added Tax) and other charges added to gold purchases can increase the final price for buyers.
Economic Conditions: Inflation, economic instability, or financial crises often drive people to buy gold as a safe investment, which can increase demand and prices.
Craftsmanship Costs: For gold jewelry, the cost of design and craftsmanship adds to the price, making it more expensive than plain gold bars or coins.
Global Events: Geopolitical tensions, wars, or major economic shifts can cause gold prices to spike, as investors turn to gold for security.

Hey My Champs

So, in this guide, we’ve covered everything about whether gold is cheaper in Turkey and how to buy and sell gold with practical tips.

From understanding global prices and local demand to finding trusted shops and avoiding scams, you’re now equipped with the knowledge to make smart gold decisions.

Whether you’re investing, shopping for jewelry, or simply curious, remember to stay informed and cautious.

Turkey’s gold market is full of opportunities—just make sure you seize them wisely.

Happy gold hunting! 🥇

More Queries?

Some questions related to gold prices in Turkey.

Is Turkish gold good?

Yes, Turkish gold is known for its high quality and craftsmanship. Jewelry is often made with 20 or 22 karats, which is considered premium. However, always check for hallmarks or stamps to verify purity and buy from reputable shops to ensure authenticity. Turkish gold is popular both locally and internationally for its beauty and durability.

Is gold cheap in Istanbul?

Gold prices in Istanbul are tied to global rates, but the city’s competitive market can sometimes offer better deals. Tourists with stronger currencies (like USD or EUR) might find gold cheaper due to favorable exchange rates. However, always compare prices at different shops and check the daily gold rate to ensure you’re getting a fair deal.

Is gold cheaper in Turkey than in the UK?

It depends on exchange rates and taxes. For tourists with stronger currencies, gold in Turkey might seem cheaper compared to the UK. However, for locals, high demand and taxes can make gold feel expensive. Always compare prices and consider additional costs like VAT before making a purchase.

Can I sell gold in Turkey as a tourist?

Yes, you can! Tourists can sell gold in Turkey at reputable shops, jewelers, or even some banks. Make sure to bring proper identification and proof of ownership. Keep in mind that selling gold might involve taxes or fees, so ask about these beforehand. Stick to trusted sellers to avoid scams.

What’s the best form of gold to buy in Turkey?

It depends on your purpose. For investment, gold bars or coins are better because they have lower premiums. For personal use or gifts, gold jewelry is popular, but it costs more due to craftsmanship. Always check the purity (karat value) and buy from certified shops to ensure quality.