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Gold prices in Turkey

Discussion in 'Kusadasi Holidays - Questions and Answers' started by Queen b, Aug 9, 2010.

  1. Queen b

    Queen b Expert

    Has anyone bought any gold necklaces, bracelets or rings in Kusadasi recently? i wanted to buy a gold ring last year (2009) and i did look and get some prices but time ran away from me and i never got round to it. This year i went back to the same shops and they said the prices had increased more than 50 percent in the last year, i was shocked. Is this true or were they trying to scam me? the price i was told was so expensive that i left it in the end.
  2. lorim

    lorim Expert

    the value of gold has increased over the past 12 months... it's been one of the best performaing commodities... not so good for us buying jewellery...

    But since there is less people buying you should be able to drive a hard bargain!
  3. Queen b

    Queen b Expert

    Thanks lorim im glad you said that, because the price was more than double what one man told me last year i was unsure if he was trying to pull a fast one.
  4. jasmina

    jasmina Expert

    Hm, 50% is not really true. It is true that gold has risen in value, but if they say that they are buying their merchandise for 50% more than last year, they're just trying to increase the selling price a bit more :p I think you're idea that he was trying to pull a fast one was correct.
  5. Fleur

    Fleur Connoisseur

    Gold is around 60 liras per gram at present, then you must add on for workmanship.
  6. Elli

    Elli Expert

    Gold is certainly more expensive and as has been noted above it's around 60tl a gram. The workmanship over here is fantastic and the gold here is 14ct +. It is around 50% more than last year. I do not think you are being conned.
  7. Queen b

    Queen b Expert

    Jasmina if its 60 lire per gram then it has risen more than 50 percent no?
    Elli and Fleur thank you thats made me feel better. I dont know about these things but do you think gold will go down in price any time soon? im going back to Turkey in December and want my gold ring.:D
  8. MeryemAna

    MeryemAna Expert

    You could always check the current price of gold on line. The one I use is www.goldprice.org/
  9. Queen b

    Queen b Expert

    Thank you Meryemana.:)
  10. MeryemAna

    MeryemAna Expert

    Your welcome! Hope you get your ring..your heart seems set on it..but I think you will. :w00t:
  11. Elli

    Elli Expert

    Personal experience - if they have cash flow it is usually a little cheaper in winter however it does depend on what jeweller you use as mine offers very fair prices all year and the quality and craftmanship is fabulous.

    As for will gold prices go down, I wish I knew that one as there are several pieces I want made and am unsure how many to get made this visit.

    Good luck. Can I ask what your ring is like?
  12. jasmina

    jasmina Expert

    The raw gold price isn't up 50% since last year. World-wide it's up about 25 to 30%, depending where you get it from. I still think charging 50% more for the end product compared to last year is too much. Especially since I'm sure that a lot of shops have stock that is pretty old. Perhaps they are also anticipating that the price will go further up (which it probably will), but when you are bargaining for your own jewelry, you shouldn't settle for 50% more compared to last year.
  13. Rhona

    Rhona Kusadasi Queen

    Funny I was just reading tonight that gold has doubled in the last 3 years, not the last year. I did buy this year, but found the prices way over the top. If it wasn't a birthday present I wouldnt have bought it.
  14. Nadina

    Nadina Explorer

    I was told gold was very cheap over there but that was from someone who hadnt been for years unfortunately, but is it still cheaper than buying it here? i wanted to buy a necklace.
  15. Rhona

    Rhona Kusadasi Queen

    I dont really know about cheaper, but you will find pieces that you will never get in the UK, and you can bargain the price, in fact you MUST bargain the price.
    The prices on show are for the tourists who are too shy (or silly) to bargain and are over the top.
  16. jasmina

    jasmina Expert

    Gold is still cheaper in Turkey than in most other countries. I have found that it is mostly the delicate stuff that is cheaper in Turkey, since the hand-work is cheap. In Turkey the price is based for the largest part on the actual gold (thus the grams) while in other countries like Holland you pay a lot for the hand-work as well. But keep in mind that the gold is cheaper in Turkey AFTER haggling down the price.
  17. dozza

    dozza Addict

    My jeweller freind told me this year no-one was buying gold. because of the high prices.
    However my brother went to Dubai and said the prices were still okay??
  18. expatroy

    expatroy Connoisseur

    Who do you use Elli? I want to get 5 sapphires (I already have them) set into silver or platinum, but don't know who to trust to get them right (or swap for inferior). They are to be an anniversary present for the wife.:) I've had them since 1989 so I guess it's about time:oops:
  19. Nyree

    Nyree Explorer

    I was out buying jewellery in town today, at Opal, and yes, the price of gold has shot up in the last 12 months. Stuff that my husband bought here 15 years ago has increased tenfold in price! However, if you want to buy jewellery, it IS always a good investment, especially if you get proper hallmarks and a full description for insurance valuation, like Opal provide, and you might as well buy it here and save yourself 17.5% VAT. I doubt if the price of gold is going to go down any time soon, since gold is an essential element in the manufacture of mobile phones and computers, and the Chinese are buying up gold worldwide for that purpose - which is why its price has increased so much!
  20. Jayley

    Jayley Fan

    Alot of the big global players are predicting the biggest move upwards in gold is still ahead of us, no reason why gold won't be $1500/ozt by christmas/early next year, and I would exect bigger moves in the long run.

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