Gram Gold Turkey

Gram Altın (gram gold) is the expression in grams of twenty-four-karat gold, widely preferred in Turkey for savings and investment. Physically, it can be bought and sold in the form of small packaged bars through banks, jewelers and dealers in the Grand Bazaar; gold accounts at banks also mostly operate on a per-gram basis.

The gram gold value shown on Lzzo.com is a gold-content model. In the calculation, the gold ounce reference, that is, the PAXG token quote, is divided by the gram equivalent of one troy ounce, and the resulting dollar value is converted into Turkish lira using the daily exchange rate. This gives the theoretical value of one gram of pure gold according to the international reference.

This value is not a jeweler's or bank buy/sell price: the model does not include elements such as workmanship, dealer premium, buy/sell spread or taxes. As a result, the price applied when buying or selling physical gram gold differs from the model. The path of the gram gold price depends mainly on two variables: the international gold price per ounce and the USD/TRY exchange rate. A rising exchange rate can increase the Turkish lira value of gram gold even if the ounce price stays flat.