BIST Increasing QNBFB.E 7.65 19.91 % CEMAS.E 0.85 19.72 % BMELK.E 1.72 19.44 % KERVN.E 0.28 16.67 % INFO.E 3.78 15.95 % Decreasing ETILR.E 3.4 -13.71 % UFUK.E 1.89 -8.70 % GLBMD.E 0.81 -7.95 % EGCYO.E 0.13 -7.14 % BRKO.E 0.26 -7.14 % VIOP Most Change O_VAKBNE0919P4.55 % -100,00 O_VAKBNE0919P4.55 % -100,00 O_VAKBNE0919P4.55 % -100,00 O_VAKBNE0919P4.55 % -100,00 O_VAKBNE0919P4.55 % -100,00 Highest Open Position F_USDTRY1019 603.578 F_XAUTRYM1019 548.539 F_USDTRY1219 426.343 F_XU0301019 421.579 F_USDTRY0919 172.115


Development and Activities of the Market

It took a long time to bring gold which has important social and economic roles in Turkey into its current financial situation. With the amendments in Decree numbered 32 concerning the Protection of the Value of Turkish Currency in 1993, determination of the gold price, gold export and import are liberalized. The decisions aimed at liberalization of gold helped import and export processes. The rapid growth seen in gold sector due to these developments accelerated new decisions concerning gold which has a great economic potential. These new decisions aimed at restructuring gold sector. The first legal decision concerning the establishment of Istanbul Gold Exchange was made in 1993, General Regulation Concerning the Foundation and Operation Principles of Precious Metals Exchanges was issued by Capital Markets Board on the basis of the provisions of Article 40/A of Code of Capital Markets, number 2499 as amended by law number 3794. On the basis of mentioned general regulation, in 1995 the Istanbul Gold Exchange (IGE) was opened (July 26, 1995) and authority to import gold was given to the members of the IGE in addition to the Central Bank. Istanbul Gold Exchange became an important step in canalizing the gold to financial system, developing gold based investment instruments and international integration of gold sector in Turkey. After the Istanbul Gold Exchange, local gold prices became in conformity with international prices, imported gold bars were enforced to meet generally accepted standards and fineness and the system gained a transparent structure. The establishment of Istanbul Gold Exchange started a continuous development process on the market, set a base for the development of gold based financial instruments.  On the other side, Borsa İstanbul A.Ş. (the Exchange) was established on April 3, 2013 through the termination of the legal entities of Istanbul Gold Exchange and Istanbul Stock Exchange under the provisions of the Capital Market Law No. 6362. Now precious metals and diamond transactions are executed in the Precious Metals and Diamond Markets of Borsa İstanbul A.Ş.

Activity Area

  • Registration of import and trade of unprocessed precious metals like gold, silver, platinum and palladium that are defined in Decree No.32 concerning the Protection of the Value of Turkish Currency which is issued in the Official Gazette dated 11/8/1989.
  • Registration and trade of precious metals that are domestically produced.
  • Trade of precious metals with fineness lower than certain amount defined by “Communique of Standards and Refineries of metals to be transacted on the Precious Metals Exchange”.
  • Execution of the transactions between members of the Precious Metals Market of Borsa İstanbul A.Ş.
  • Storage of precious metals owned by members, mutual funds, exchange-traded funds assets
  • Storage of precious metals under the account of Required Reserves of Turkish Central Bank.
  • Studies for the development of instruments and legislation based on precious metals,
  • Import and export procedures for rough diamonds that are taken into consideration under the Kimberley Process Certification Scheme
  • According to the Communiqué about investment funds and trust companies issued by Capital Markets Board, precious metals that are subject to transaction under investment funds and investment partnerships must be stored in the vault of Borsa İstanbul A.Ş. (formerly Istanbul Gold Exchange). Transactions under this manner must be executed in the Exchange.

Sub markets

There are three markets: Precious Metals Market, includes the spot trade of standard and non-standard gold, silver, platinum and palladium metals.  Precious Metal Lending Market, provides lending transactions of defined precious metals. Diamond and Precious Stone Market, provides transactions of diamond and precious stones.

In order to access to the details of submarkets please use links at the left of the page.



July 26, 1995

Establishment of Istanbul Gold Exchange

July 9, 1999

Initiation of silver and platinum trade

March 24, 2000

Launch of the Precious Metals Lending Market

April 4, 2011

Launch of the Diamond and Precious Stone Market

November 17, 2011

Initiation of palladium trade

November 17, 2011

Obligation to deliver imported non standard precious metals to the Exchange was brought to the Precious Metals Market members.

 April 3, 2013

Merger of İstanbul Stock Exchange and İstanbul Gold Exchange under the name of Borsa İstanbul A.Ş. and launch of Precious Metals and Precious Stone Markets 

 June 5, 2013

The first meeting of Precious Metals Market (PMM) Advisory Committee 

 December 12, 2013

Launch of gold custody service to financing companies on their required reserves 

 January 8, 2014

Launch of value dates between T+16 and T+90 

 April 17, 2014

Implementation of PMM API 

 June 6, 2014

Launch of separate session screen for mini bar orders  

 September 19, 2014

Launch of conversion transactions (for gold, from any type and assay to any type and assay conversions between members and refineries) 

 September 26, 2014

Launch of Early Cash Settlement 

 September 30, 2014

First trade on Diamond and Precious Stones Market 

 October 12, 2014

Precious Metals and Precious Stone Markets' moving to Kuyumcukent 

 November 26, 2014

Translation of "OECD Due Diligence Guidance on Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas" into Turkish and distributing to the PMM members 

 December 4, 2014

The first transaction on fixing price on PMM (fixing order) 

December 18, 2014

First Operation of Early Cash Settlement

February 23, 2015

The first customer trade on Precious Metals Market

July 29, 2016

Launch of Grandbazaar (Kapalıçarşı) Delivery Location

February 13,  2017

 Beginning of activities in the new complex

July 2, 2018

BISTECH tranformation of Precious Metals Market



International Memberships

  • Turkey was admitted to Kimberley Process Certification Scheme on August 14th 2007 and İstanbul Gold Exchange was authorized to conduct import and export of rough diamonds within the framework of Kimberley Process Certification Scheme. Now, Borsa İstanbul A.Ş. (Precious Metals and Diamond Markets) became an authorized institution for the Scheme. 
  • Istanbul Gold Exchange was admitted to associate membership of London Bullion Market (LBMA) on March 3rd 2008. After restructuring Borsa Istanbul A.Ş. became a member of LBMA.
  • Istanbul Gold Exchange was admitted to membership of World Federation Diamond of Bourses (WFDB) on May 13th 2008. After restructuring Borsa Istanbul A.Ş. became a member of WFDB.

Gold Markets/Exchanges in the World





Borsa İstanbul1
























SGE Spot








ICE Futures US




* Values are given terms of net tonnes

1 %100 Physical Delivery, mainly spot 2 Physically backed



The legislation of precious metals and diamond trade and the Precious Metals and Diamond Markets of Borsa İstanbul A.Ş. (formerly İstanbul Gold Exchange) are below.