Turkey · TRY · January 2023
Gold Price in Turkey — January 2023
In January 2023, the gold price in Turkey closed at approximately ₺56,824 per troy ounce, equivalent to ₺21,310 per tola or ₺1,827 per gram. This represents a +1.38% change on the month (₺56,051 open → ₺56,824 close).
Open
₺56,051
per troy ounce
Close
₺56,824
per troy ounce
High
₺57,170
per troy ounce
Low
₺53,573
per troy ounce
All unit prices at January 2023 close — Turkey
| Unit | Weight | Closing TRY price |
|---|---|---|
| Troy ounce | 31.1035 g | ₺56,824 |
| Gram | 1.0000 g | ₺1,827 |
| 10 grams | 10 g | ₺18,269 |
| Kilogram | 1,000 g | ₺1,826,949 |
| Tola | 11.664 g | ₺21,310 |
Karat-purity breakdown at January 2023 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24K | ₺1,825 | ₺21,288 |
| 22KTURKEY STD | ₺1,673 | ₺19,520 |
| 21K | ₺1,599 | ₺18,646 |
| 18K | ₺1,370 | ₺15,982 |
| 14K | ₺1,069 | ₺12,466 |
| 10K | ₺762 | ₺8,886 |
Daily gold price in TRY — January 2023
January 2023 gold market: Strong start on China reopening
BullishChina reopening and a softer dollar powered a strong start.
Gold rallied from about $1,820 to $1,920 in January as China's abrupt end to its zero-COVID policy revived demand expectations, the dollar weakened, and markets bet the Fed was nearly done hiking. It was one of gold's best opening months in years.
What drove gold in January 2023
- China reopening from zero-COVID
- weaker US dollar
- Fed slowdown expectations
- resilient central-bank buying
Key events in January 2023
- Jan 13Gold pushes toward $1,920 as the dollar slides
What happened next
Strong US data in February briefly revived the Fed-hawkish trade and pressured gold.
For gold buyers in Turkey
January's surge rewarded buyers of the late-2022 lows, as the Fed-pause story finally gained traction.
The 2023 gold market: Banking crisis and another record CB buy year
Silicon Valley Bank failed in March 2023, followed by Credit Suisse rescue. Gold rallied to $2,072 in May, then traded $1,820–$2,090 through year-end. Central banks bought another 1,037 tonnes — second-highest ever. Year close: $2,062.
Key drivers in 2023
Regional banking crisis, Credit Suisse failure, central-bank buying continues, persistent inflation
2023 XAU/USD high
$2,135 (Dec)
2023 XAU/USD low
$1,810 (Feb)
Era context — The modern bull market (2019 to today)
Gold's second major bull market of the 21st century. Driven by COVID stimulus, Russia sanctions, central-bank accumulation at record levels, and the structural shift toward a multi-polar reserve system. New all-time highs reached repeatedly since 2020.
The Turkey gold market
Turkey is one of the world's largest retail gold markets relative to GDP, driven by historical use of gold as an inflation hedge against persistent lira depreciation. Prices are quoted per gram in 22K (Cumhuriyet and Reşat coin standards) and 24K (gram bars). The Borsa İstanbul Gold Exchange runs the official daily fix.
Standard quote unit
gram
Common purity
22K
Currency
TRY (₺)
Daily gold price — January 2023, Turkey
₺56,051
$1,897.71/oz
₺53,573
$1,813.80/oz
₺54,444
$1,843.30/oz
₺54,857
$1,857.30/oz
₺54,169
$1,834.00/oz
₺54,707
$1,852.20/oz
₺55,574
$1,881.55/oz
₺55,495
$1,878.90/oz
₺55,489
$1,878.70/oz
₺55,303
$1,872.40/oz
₺55,605
$1,882.60/oz
₺56,331
$1,907.20/oz
₺56,977
$1,929.06/oz
₺56,621
$1,917.00/oz
₺56,526
$1,913.80/oz
₺56,730
$1,920.70/oz
₺56,668
$1,918.60/oz
₺56,854
$1,924.90/oz
₺57,170
$1,935.59/oz
₺56,559
$1,914.90/oz
₺56,733
$1,920.80/oz
₺57,028
$1,930.80/oz
₺57,079
$1,932.50/oz
₺56,801
$1,923.10/oz
₺57,140
$1,934.57/oz
₺56,830
$1,924.10/oz
₺56,824
$1,923.90/oz
How Turkey gold prices are calculated on this page
Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The TRY/USD exchange rate comes from exchangerate-api.com's 2023 year-end snapshot.
Conversion. Every TRY figure on this page is computed as XAU/USD price × TRY/USD rate. We use the year-end exchange rate consistently across all January 2023 prices on this page.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417).
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in Turkey, add the country-specific levies described in the “Turkeygold market” section above.
FAQ — Turkey gold price in January 2023
What was the gold price in Turkey in January 2023?
In January 2023, gold in Turkey opened at ₺56,051/oz and closed at ₺56,824/oz — a move of +1.38% on the month. Per tola: ≈₺21,310; per gram: ≈₺1,827; per 10g: ≈₺18,269.
What was the 24K gold rate per tola in Turkey in January 2023?
The 24K gold rate per tola in Turkey at the January 2023 close was approximately ₺21,310, derived from international XAU/USD spot of $1,923.90/oz times the 2023-end TRY/USD exchange rate of 29.5361. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 22K gold rate per gram in Turkey in January 2023?
Turkey's most-quoted retail standard is 22K per gram. At the January 2023 close, that worked out to approximately ₺1,673 (22K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
TRY prices on this page are computed from the verified international XAU/USD spot price for January 2023 (sourced from gold-api.com), multiplied by the 2023-end TRY/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.
Why does the retail price in shops differ from this number?
The ₺ figures here represent the international gold spot price converted to TRY at the 2023-end exchange rate. Turkey's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.
Want today's rate in Turkey? See live gold prices in Turkey with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2023 archive or the USD-only January 2023 page with the country-by-country list at the bottom.
Other markets? Compare January 2023 prices across other major gold-trading countries: Pakistan, India, United Arab Emirates, Saudi Arabia, United States.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to TRY at the 2023-end exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in Turkey before transacting.