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Charge for Gold...

By Cemil Ozyurt

It has been three years since we have published and sent our first issue of Turk of America to our readers. During this period, we have traveled thousands of kilometers in order to introduce you to different names and faces from different fields of work.  
As a Turkish periodical located in New York, "Turk of America” has always been happy to put innovative ideas into effect. This time we are proud to present you our first special supplement on industrial sectors, "Turk of America Jewelry". Our main goal is to enhance business relations between the U.S. and Turkey by publishing supplements which address different sectors.  
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Special Jewelry Issue Cover.

Our choice of the gold and precious metals sectors, which have improved a lot in the last 20 years, is no accident. Today, around 25 Turkey-based gold companies in New York have a great importance in representing Turkey in the U.S.

Turkey's gold export was 842.6 million dollars in 2004. The total volume of the sector is around 4.5 billion dollars. This corresponds to 2.3 percent of the GNP. When considered within its own dynamics, the gold sector is very precious to Turkey. What if this were evaluated taking into consideration the U.S. market? What would the picture look like?

The gold and watch sales of Wal-Mart, the biggest chain in the U.S., were approximately 2.6 billion dollars in 2004. The total gold and watch endorsement of the 10 biggest purchasing companies is about 13 billion dollars. Considering that Turkey's gold export is 250 million dollars, Turkish companies have yet a long way to go in this sector.

In spite of the large volume of the market, there’s competition between the Turkish companies in the market. And of course, gold production firms suffer from this.

On the other side of the coin, there are the companies founded by Turkish, Armenian and Assyrian immigrants. Armenians, who are very well known for their goldsmith skills, have stores from New York to Los Angeles. Assyrians, who are generally of Mardin origin, also hold an important share in the gold market with their companies. The stories of success which you are about to read in these pages represent only a few of many.

Turk of America will continue to announce the thoughts and actions of businessmen. We are happy to share the righteous pride of accomplishing another important achievement with this supplement.            

Jewelry Special Issue, October 2006
Last modified onSaturday, 06 May 2017 10:07

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