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Asia-pacific

Gold rush in Turkey as prices plummet

© Hürriyet Daily News

Text by HÜRRIYET DAILY NEWS

Latest update : 2013-04-29

A sharp drop in gold prices two weeks ago caused a gold rush in Turkey's Grand Bazaar, the unofficial centre of the Turkish gold market, with analysts claiming that prices will still continue to fall.

A sudden fall in gold prices two weeks ago caused a gold rush among Turks, who were unable to find gold coins in the market in the days after the drop. While jewelry stores in the Grand Bazaar, the unofficial center of the Turkish gold market, say this gold rush is a “typical Turkish attitude,” experts say a similar situation is also seen in the other “gold-loving” countries, like India, where gold prices have also fallen.

The intense demand again resulted in the raising of gold prices, which removed the situation “considered as profitable,” but sector professionals and analysts claim the prices will still continue to fall.
 

Click here to read more on Hürriyet Daily News.

Date created : 2013-04-29

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