Gold is banned! Jewelers will no longer be able to sell cut gold

gazetepencere.com

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Supervision is increasing in the gold market. With the new regulation brought by the Ministry of Treasury and Finance, the sale of cut gold has been restricted.

Tr724

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The sale of towed precious metals, also known as “cut gold”, will not be permitted to those other than jewelry establishments and real persons who are specified in the tax plate as engaged in the production or trade of precious metals. The Presidential Decree on the subject was published in the Official Gazette. Precious metal purchase and sale transactions carried out without physical delivery will be considered as foreign exchange transactions…

superhaber.com

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With the decision published in the Official Gazette with the signature of President Erdogan, jewelers will no longer be able to sell cut gold. The decision did not specify a clear solution for those who had drawn gold in their hands. Although jewelers may buy this gold with the intention of scrapping, prices may fall due to the sales ban.

Aydınlık

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Ownership

The sale of towed precious metals, also known as cut gold, will not be permitted to anyone other than jewelry businesses and real persons who are specified on the tax plate as engaged in the production or trade of precious metals. According to the decision, jewelers will no longer be able to sell cut gold.