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A Turkish jeweler in Bilecik announced that gold is sold out in retail stores and stated that he couldn't find any gold to sell for the first time in 28 years.
Turkish news agency (BPT) shared the jeweler's statements along with a photo of a sign in front of his shop that reads "No Gold." He said:
“I’ve been a jeweler for 28 years, and this is the first time we couldn’t find gold. If we had gold, we would sell it.”
This situation arose after a sharp decline in gold prices in recent days. Citizens flocked heavily to jewelers, especially in Istanbul’s Grand Bazaar, where long queues formed, and some shop owners ran out of stock.
In response to this unprecedented demand, some jewelers put up signs in their shop windows that read:
“Swear we have none, swear we have none.”
Jewelry stores said they are struggling to meet the increased demand, with some products quickly sold out and others temporarily stopping sales. The busy day showed an unprecedented increase in physical gold demand.
Meanwhile, the government denied claims of a genuine supply crisis. According to TRT, an official from the Mint stated that reports of no gold in grams and quarter gold coins are “not true,” and jewelers can obtain gold on the same day through an appointment system.