Era of gold purchases with credit cards ending: BRSA introduces new limits

Following a new decision by the Banking Regulation and Supervision Agency (BRSA), significant restrictions have been introduced on gold purchases using credit cards. According to reporting by Sözcü Gazetesi, with this regulation in place, citizens will need to shift away from credit cards toward alternative payment methods for gold purchases. This decision, implemented at a time when gold demand in Turkey has been running high, is drawing attention for its direct impact on consumer behavior. Economists and sector experts assess that the measure is part of a comprehensive package of steps aimed at curbing the current account deficit. Considering the pressure that gold imports place on the foreign exchange balance, the BRSA's move appears to be shaped by macroeconomic concerns. Jewelry sector representatives and individual gold investors are identified as the groups most affected by the decision. Sözcü Gazetesi did not disclose the exact date the new regulation will take effect; however, it was stated that implementation will begin in the short term.