Soaring silver prices, driven by increased global demand and investment, are significantly impacting traditional gold-centric customs in Türkiye. Many citizens and traders are turning to silver as a more affordable alternative for savings and traditional gift-giving at weddings due to gold becoming prohibitively expensive.

• The price of silver has surged by 47 percent internationally, and by approximately 77 percent in Türkiye since the beginning of the year.
• Gul Kaya, a 50-year-old housewife in Istanbul, notes that gold has become “too expensive for ordinary people,” leading to a shift towards silver.
• Monthly average silver imports in Türkiye rose by 35 percent to 45,535 kg by the end of August, reflecting the increased demand.