‘Golden’ warning to couples planning a wedding – Last Minute Economy News
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With the arrival of the summer months after the Eid al-Fitr holiday, couples started to make wedding preparations.
One of the most important expenses for couples during their wedding preparations is shopping for jewelry and gold. Giving advice to couples preparing for their wedding, Eskişehir Jewelery Store Manager Emre Öztürk also gave information about the gold market. Stating that the activity in the six markets continued while the markets were closed during the 9-day Eid al-Fitr holiday, Öztürk underlined that this activity added salt and pepper to the crisis between Israel and Iran.
Reminding that gold prices are on the rise, Emre Öztürk advised couples to shop for jewelry now.
“GRAM GOLD PRICES INCREASED TO 2 THOUSAND 700 LIRA ON THE EVE OF Eid”
Expressing that the markets, which were closed during a 9-day Eid al-Fitr holiday, continued their activity, Eskişehir Jewelry Store Manager Emre Öztürk said, “We had a 9-day Eid al-Fitr holiday. We can say that activity continued while the markets were closed and gold prices peaked. In addition, we can say that the tension between Iran and Israel has added a little more spice to this situation. While the markets were closed on the eve of the holiday, gram gold prices quickly rose to 2,700 lira. With the war not continuing and the parties withdrawing, gold prices showed a slight decrease, but the high labor prices in the markets still continue. This situation does not disrupt market activity, so gold prices still remain at high levels. “We can especially inform our customers who will invest that this trend will continue in the coming days,” he said.
“OUR RECOMMENDATION IS TO BUY THE GOLD NOW AND PUT IT AWAY.”
Stating that the wedding season has started, Manager Emre Öztürk conveyed the recommendations of the bride and groom candidates as follows;
“Other than that, our wedding season is now open. Due to the rise in gold prices, wedding activity started slightly lower than previous seasons. For this reason, with the rise in gold prices, our brides and grooms turned to gold that provides more investment opportunities. For example, they preferred quarter gold instead of bracelets, and bracelets instead of jewelry sets. We can say that the way jewelery is purchased has changed. Mobility in the market reacts very quickly and gold prices rise, in this case bride and groom candidates are afraid that the gold price will rise even further. Our advice to those who are going to have a wedding is to buy gold now and put it aside because prices will continue to rise. Currently, the sales and production of 1 gram gold, especially 22 carat gold, has stopped. Trading continues in the market, but 24 carat 1 gram gold is preferred instead. Instead of quarter gold, 1 gram of 24 carat gold is preferred, apart from that, lighter products instead of jewelry products; Instead of large sets, minimal products are preferred. Of course, the increase in prices has an impact in this situation.”
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