What is gram gold? How the gram altın price is calculated

Gram gold is the everyday way Turkey quotes gold: the lira price of a single gram of pure gold. Jewellers, banks and exchanges all quote it, along with coins such as the quarter (çeyrek) and the full coin (tam altın).

Globally, gold trades in dollars per troy ounce, so gram gold is a local translation of that price rather than a separate market.

Take the ounce price in dollars, convert it to lira with the USD/TRY rate and divide by the number of grams in a troy ounce, 31.1035:

Gram gold (TRY) = ounce price (USD) × USD/TRY ÷ 31.1035

For example, with gold at $2,500 an ounce and USD/TRY at 40, one gram is about 2,500 × 40 ÷ 31.1035, or roughly 3,215 lira. Real quotes differ slightly because of spreads and the purity or form of the gold.

Many people in Turkey hold gold as a store of value against lira depreciation and high inflation. Because gram gold moves with both the global price and the dollar rate, it has often protected purchasing power over long periods.

It is also easy to buy in small amounts, culturally familiar as savings and gifts, and widely traded through banks, exchanges and jewellers.

Gold is volatile and pays no interest or dividends, so prices can fall for years. A rising lira price can also come only from currency weakness while the dollar price is flat.

Compare the buy and sell quotes, since the spread is a real cost, and ask about workmanship charges on jewellery, which are rarely recovered when you sell.