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Turkiye to end cash transactions in gold trade under new tracking system
Coming soon to a 'land of the free' near you?
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From the Hurriyet Daily News, Istanbul
Thursday, January 8, 2026
Turkiye will introduce a comprehensive digital tracking system for precious metals in April, effectively ending cash transactions in gold trading and requiring all purchases and sales at jewelry shops to be conducted through banks, credit cards, or bank transfers.
Called the Precious Metal Tracking System, the new framework has been developed by the Turkish State Mint within the Treasury and Finance Ministry.
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Under the new system, all gold sold in Turkiye, from one gram to one kilogram, will be required to carry an official Mint-issued banderol and certificate.
Each banderol will include a unique serial number, allowing authorities to track the gold's origin, producer and entry into the market in real time.
Authorities say the system aims to curb the informal economy, combat counterfeit gold. and strengthen oversight of the gold market.
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