The Gap Between Gold Certificates and Gram Gold Hits Record High
The Istanbul Gold Exchange saw a record-breaking gap between the Darphane Gold Certificate and spot gold prices, as the difference climbed to 34% — the highest on record.
According to data from Borsa Istanbul’s Commodity Market, the price of a gold certificate equivalent to 0.01 gram of gold rose 3.41% as of 14:45 today to 70.97 TRY. The price of 100 certificates, equal to one gram of gold, reached 7,097 TRY.
In the spot market, gram gold was priced at 5,279 TRY with a 1.33% increase, while in Kapalıçarşı (Grand Bazaar) it traded at 5,435 TRY, up 1.20%.
As a result, the spread between Darphane Gold Certificates and the interbank rate widened to 34.43%, while the gap with the Grand Bazaar rate rose to 30.57%.
