Defying the geopolitical gravity of Middle East conflict, a sudden plunge in gold prices has ignited a buying frenzy across Türkiye, stripping jewelry counters bare of gram and quarter coins as consumers race to capitalize on the rare discount.
Queues formed outside shops as customers struggled to find gram and quarter coins, the most popular forms of physical gold.
Such shortages are not new, however, as sharp price swings often trigger waves of demand that quickly deplete stocks. Officials at the Turkish Mint explained that jewelers can obtain gold through its appointment system on the same day, and that while demand has risen, it has not reached levels requiring additional shifts. They noted that some shortages stem from jewelers' unwillingness to sell products purchased at higher prices for less, rather than from supply constraints at the Mint.
Jewelers said the sudden surge in demand caught them off guard after the holiday period. One shopkeeper explained that quarter coins sold out quickly, and while restocking took time, sales resumed after brief delays.
