Gold price volatility has hit citizens. As of yesterday, jewelers stopped selling varieties of gold, especially quarter gold and gram gold. The citizens who went to buy gold from the jewelers are in shock. Because when they want to buy quarters and grams of gold, the sellers say they don’t negotiate.
PRIMARY AIR / DECISION
Developments that upset the balance of the economy are continuing. While the dollar started on the morning of May 25 with 16 lira above 30 cents, since yesterday jewelers’ sales, especially the gram of gold and the quarter of gold, have come to a halt in many cities. , especially in Istanbul.
WE CANNOT SELL GOLD
Due to the volatility of gold and exchange rates, many jewelers across the country have been turning away customers since Monday, May 23, saying they are not selling to citizens with credit or debit cards. Jewelers who don’t want to make sales using a point of sale device say they pay a point of sale commission and have to block the money they receive from the sale at the bank for at least one month after making the sale.
WE LOSE AS THE PRICE OF GOLD RISES
With the arrival of summer, the wedding season has opened. But while the price hike gave citizens pause, it came from jewelers all of a sudden. Citizens who wanted to buy quarter gold or gram gold using a debit card started coming back from the jeweller’s door. Jewelers, who say banks are increasing point of sale commissions, say that at a time when gold prices are rising all over the world, it is impossible for us to make a loss on every sale, we don’t we therefore do not sell by card.
ADDITIONAL COST IN WEDDINGS
Marriages began in April. Especially in June, with the schools closed, the wedding season will start quickly. But as price hikes made wedding season difficult, a blow came from jewelers to those who were about to get married. With the start of cash sales, there is an additional cost for those who are going to get married. Most wedding purchases are made with gold credit and debit cards. Expressing that they are very affected by the volatility of gold prices, the jeweler traders say that despite all these risks, when they buy gold by installments on their credit cards, we will go broke. Wedding owners are already thinking about how to buy gold for cash.
BUY GOLD BY CARD IF YOU NEED CASH
According to information obtained by the Decision newspaper, those who need cash can buy quarters with a credit card and exchange the gold they buy at another jewelry store and turn it into cash. Another claim is that citizens who buy gold with a card exchange the gold the same day they buy it and convert it into dollars. All of these developments are trying to drive jewelers into cash sales by not doing card sales.