Gold Smuggling Spikes in Turkey on Growing Gap With World Market

Turkey is facing a surge in gold smuggling as people seek to profit from the country’s growing premium to international markets due to a cap on imports.

Security forces have seized about 350 kilograms of smuggled gold at border crossings so far this year, already more than 60% of what they found in the whole of 2023, according to an official with knowledge of the matter, who spoke on condition of anonymity as they weren’t authorized to brief the media.