Turkey faced a severe economic crisis in February 2024, with an inflation rate surpassing 67%.

The crisis was fueled by the continuous devaluation of the Turkish lira against the U.S. dollar, putting immense pressure on the economy.

In response, many Turks are turning to gold as a safer investment option, leading to a surge in gold smuggling into the country.

This shift towards gold reflects diminishing faith in the local currency and the broader financial system.

The heightened demand for gold underscores the population's attempt to hedge against further economic decline and currency devaluation, highlighting the urgent need for comprehensive measures to stabilise the economy and restore public confidence.