01.11.2025 12:00
The Central Bank has decided to halt gold purchases. Mehmet Yüksel, the President of the Diyarbakır Jewelers and Goldsmiths Chamber (DİKO), stated that they view the decision positively and that this development could lead to a relaxation in the market. Yüksel also shared his forecasts regarding the gold market.
The Central Bank of the Republic of Turkey has temporarily halted the purchase of gold produced in Turkey. According to experts, this decision will reduce the price difference between the international market and the domestic market and provide relief to the sector struggling due to the import quota.
POSITIVE DEVELOPMENT WE FIND
Mehmet Yüksel, President of the Diyarbakır Jewelers and Goldsmiths Chamber (DİKO), stated regarding the Central Bank's halt on gold purchases, "Due to the quota application for the past four years, the Central Bank was conducting gold purchases within its own structure, which meant there was not enough gold available in the market. This decision is honestly a development we did not expect but find positive."
RELAXATION EXPECTED IN THE MARKET
DİKO President Yüksel mentioned that due to the quota system implemented for the last four years, the Central Bank's gold purchases have significantly restricted the supply in the market, causing periodic imbalances in the jewelry sector. Reminding that the Central Bank has halted gold purchases with the latest decision, Yüksel said, "This decision indicates that a new process will begin in the sector. Due to the quota application for the past four years, the Central Bank was conducting gold purchases within its own structure, which meant there was not enough gold available in the market. This decision is honestly a development we did not expect but find positive. Currently, the likelihood of a relaxation in the market seems quite high. This situation may provide some relief to both producers and jewelers," he said.
GRAM GOLD FORECAST
Yüksel warned that citizens should also act cautiously during this process, stating, "Gold is always a safe haven, but there may be short-term fluctuations after such sudden decisions. It would be wise for our citizens not to act in panic and to make buying and selling decisions more carefully. With the Central Bank halting purchases, an increase in the supply of raw gold, which has been a long-standing issue in the market, is expected. This will directly positively affect production capacity and workshop activities. It is anticipated that there may be a short-term relaxation in the rising gram gold prices due to limited supply in recent times. This could help restore the balance of buying and selling in the market. If the decision becomes permanent, stability and trust in the markets will strengthen. It is expected that trade will revive in provinces with high production and sales capacity, such as Diyarbakır," he said.