Demand for ‘fake gold’ rises as price spikes

ADANA - Demirören News Agency

Demand for “fake gold” has been strong as the price of the precious metal is rising, experts have said, warning that it is very difficult to spot the difference between fake and real gold.

People have been visiting jewelry shops to buy gold to present as gift to couples as wedding ceremonies restarted after the country rolled out its plan for normalization amid the coronavirus outbreak.

“Customers are buying those fake golds, also known as “Syrian gold,” because they cannot afford to buy the real ones but they do not want to go to the weddings empty handed, without any gift,” said Bülent Dalyan, who runs a jewelry shop.

Giving golden jewelry to marrying couples is customary in Turkey. The couples tend to sell the gifts they received at their wedding ceremonies for cash.

“When the couples come to our shop, they figure out those are fake gold,” he added.

Altun noted that items made of fake gold are sold for as low as 10 to 15 Turkish Liras (around $1.5 and $2).

People, particularly women, are also buying fake gold products for their own use, according to Gamze Taraca, who sells ornaments.

“They are very affordable, and it is very difficult to say if they are real or fake. There has been very strong interest in those jewelry. The main reason behind why people buy those items is the high price of real gold,” she said.