Gram Silver Turkey

Gram Gümüş (gram silver) is the per-gram price of silver commonly used in Turkey. Besides products such as jewelry, silverware, commemorative coins and bars, silver is also used in industrial areas such as electronics and solar panels. In Turkey, transactions can be made through jewelers and some banks, either in physical silver or through silver accounts.

The gram silver value on Lzzo.com is a model: the silver ounce reference comes from COMEX silver futures (SI=F) obtained via Yahoo Finance; this value is divided by the gram equivalent of one troy ounce and converted into Turkish lira using the daily exchange rate. This gives the theoretical value of one gram of silver according to the international futures market reference.

The value shown is not a jeweler's or bank buy/sell price; for physical silver, workmanship, dealer premium, spread and taxes are added to the price. In addition, the futures contract price can diverge from spot silver. The path of gram silver depends on the joint movement of the silver price per ounce and the USD/TRY rate; silver is known as a more volatile metal than gold.