07.11.2025 20:25
As gold prices reached record highs in 2025, investor interest rapidly increased. According to BDDK data, the largest increase in gold deposits during the first nine months of the year was observed in Rize. In the city, gold accounts rose by 167%, reaching 17.2 billion TL. Following Rize were Istanbul, Izmir, and Aksaray.
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In recent months, the record-breaking gold prices have increased investors' interest. As the price of gold per gram approaches 6,000 lira, long queues have formed in front of jewelry stores, while the data from the Banking Regulation and Supervision Agency (BDDK) revealed a significant increase in gold accounts across Turkey. According to the data, Rize ranked first among the provinces that purchased the most gold in the first 9 months of the year.
LEFT THREE MAJOR CITIES BEHIND
Gold, seen as a safe haven by investors, reached a historic record of $4,381 per ounce and 5,905 TL per gram in the last two months. According to BDDK's 9-month report, Istanbul, Ankara, and Izmir are in the top three in terms of gold deposit volume, while Rize surpassed these cities in proportional increase. Rize, which had 6.5 billion TL in gold deposits in January, reached 17.2 billion TL by the end of September. Thus, it became the leader in Turkey with a 167.3% increase in gold deposits. Following Rize are Istanbul, Izmir, Aksaray, Mersin, and Antalya.
DOMINANCE OF MAJOR CITIES IN THE TOP 10
According to BDDK data, the provinces with the highest gold deposits in Turkey and their annual growth rates are as follows:
- Rize: 6.46 billion TL → 17.26 billion TL (167.3% increase)
- Istanbul: 452.57 billion TL → 907.14 billion TL (100.5% increase)
- Izmir: 79.79 billion TL → 159.49 billion TL (99.8% increase)
- Aksaray: 5.13 billion TL → 10.13 billion TL (97.4% increase)
- Mersin: 21.13 billion TL → 41.51 billion TL (96.4% increase)
- Antalya: 44.80 billion TL → 87.43 billion TL (95.1% increase)
- Hatay: 13.01 billion TL → 25.33 billion TL (94.6% increase)
- Balıkesir: 21.23 billion TL → 41.28 billion TL (94.3% increase)
- Muğla: 20.80 billion TL → 40.41 billion TL (94.2% increase)
- Ankara: 160.05 billion TL → 310.23 billion TL (93.9% increase)
RECORD SERIES IN GOLD PER GRAM
Gold has gained more than 50% in value per ounce and over 80% per gram in global markets over the past year. In just the first 9 months of 2025, the increase in gold per gram was recorded at 77%. According to experts, the rise in gold prices is influenced by global uncertainty, central banks' reserve increases, and geopolitical risks, while the trend of Turkish investors shifting from foreign currency to gold has also supported this increase.
HIGH DEMAND FOR GOLD IN RIZE
The rise of the small Black Sea province of Rize to the top is noteworthy. Experts state that this increase in gold accounts is due to traditional investment habits in the region, foreign currency inflows from expatriates working abroad, and cultural ties to gold.
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