By David Brough
ISTANBUL – The Iran war can spur Istanbul as a production and trading hub for gold and silver jewellery.
As the conflict chokes Gulf Middle Eastern markets and production, Turkish gold and silver jewellery output has the potential to expand and find new export opportunities, senior industry executives said.
The outlook for production and trade of Turkish gold and silver jewellery was a major talking point at the April 1-4, 2026, edition of Istanbul Jewelry Show, which celebrated its 40th anniversary.
IJS, April 2026
Business carried on as usual at the show as the Iran war entered its second month.
Şermin Cengiz, who founded Istanbul Jewelry Show, told Jewellery Outlook that the war could drive the Istanbul region to develop further as a leading hub for production and trade in gold and silver jewellery.
Istanbul is Turkey’s leading centre for jewellery production and trade, around hubs such as the twice-yearly Istanbul Jewelry Show, organised by Informa Markets Jewellery, and the Grand Bazaar, an historic maze of retail outlets and ateliers.
Turkish manufacturers have the capability to rapidly switch purities of gold jewellery in response to market pressures.
The Machinery hall at Istanbul Jewelry Show in April presented the latest, cutting-edge technologies that can deliver a range of purities of gold jewellery, from 8 carats and up.
Machinery hall, IJS, April 2026
The prolonged rally in gold prices in recent years has propelled demand for lower caratages and less weight in order to keep offers of precious jewellery at accessible price points to final customers.
Istanbul’s potential as a jewellery hub will hinge on strategic direction from Turkey’s Jewellery Exporters’ Association (JTR).
However, uncertainty over the future leadership of JTR set in after Ceyhan Hosgor, a senior diamond jeweller and manufacturer, withdrew his sole candidacy to lead the organisation a few days before scheduled elections.
The field is now wide open to attract candidates to spearhead the JTR and the Istanbul jewellery sector to a brighter future.
Burak Yakın, President of JTR (centre of picture.)
Turkish jewellery industry executives believe that Turkish exports need to find alternative markets to the Gulf region, notably in Asia, Latin America and Africa.
Istanbul’s potential for growth as a jewellery hub will ultimately depend on how long the Iran war will last, and how long it will take for Gulf markets and production to recover.
IJS, April 2026
