İstanbul Jewelry Show March 2017

Nadir Metal celebrated its 50th year in March Fair.

Nadir Metal Rafineri, met with visitors at CNR EXPO Istanbul Jewelry Show, which is held for 44th time, on March 16-19, 2017.

This fair, which took place in March, had also a special importance for the Nadir Metal Refinery:

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Galata Tower from 157 Kilograms Gold

The miniature of Galata Tower, which was prepared by Nadir Metal Refinery through using 157,65 kilograms gold and 282,50 kilograms silver, was exhibited at Istanbul Jewelry Show, held at CNR Expo between the dates of 12-15 October. Read more

President Recep Tayyip Erdogan’s call to “get gold instead of foreign currency” filled the citizen’s pocket.

President Recep Tayyip Erdogan’s call to “get gold instead of foreign currency” filled the citizen’s pocket. After Erdogan’s call, 24 carat gold, traded in 128 liras, raised by 15 percent to 147 liras. Upon Erdogan’s call, the citizens who have exchanged foreign currencies and received gold began to earn in as short as 1.5 months. As of December 2016, 24 carat gold, traded at 125 liras, the citizens flowed into goldsmiths and banks to sell the gold under the pillow when it was trading at 147 liras as of March. Citizens who can not buy gold at the time of the President’s call, continue to make purchases with the hope that gold will rise again.


Goldsmiths reported an increase of 20 to 30 percent in gold sales, Erdem said, ” When gold goes down, people attack gold. We always say that if you will be deceived at these prices and sell the gold and wait for unnecessary time and  lend it to the dollar, do not be in such an opinion. Invest in gold.  Between 2003 and 2016, the dollar had risen by about 2.2, while the gold gained 6-7. Gold always keeps on winning.  Never turn to the dolar. Stay in gold and they will continue to win, “he said. Authorities said, “At the beginnig of this year, gold was 125 liras, now our tag price is 147 liras. As the President of Turkey has said, the citizens must leave the dollar and buy gold. Because gold always earns.

President Erdoğan said, the gold indexed step should be taken in the currency. President Recep Tayyip Erdogan proposed “gold” to get rid of the international currency pressures and said, “I believe that it would be more appropriate to take a participatory finance approach in the financial sector, indexed to the currency or even gold. When we express with gold, we will not be under the pressure of these currencies.”



President Recep Tayyip Erdogan attended the 32nd Opening Session of The Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC). Erdogan, speaking at the meeting, emphasized that the trade volume between the members of the Organization for Islamic Cooperation should be increased, and “In the next decade, 6 percent increase in intra-organization trade is targeted. I think this is a modest increase. Considering the potential of our country, I think it would be more appropriate to take 25 percent of it. This is not a limit. But it must be 25 percent” he said.


Erdogan argues that Islamic countries should become more resistant to global crises. “In this context, I take care of the solutions that will be inherent in the important crises that Islamic financial asset based approach and moral principles are giving. For that reason we are constantly talking about interest-free. How do we get rid of international currency pressure here? I find it useful to take steps. I believe that it would be more appropriate for the participatory finance approach in the finance sector to take an indexed step in the currency or even in the gold. The volume of the Islamic financial market grew by 15 percent per year. In 2015, it reached $ 2.1 trillion. Let us express them in gold. When we express with gold, we won’t be under the pressure of these currencies. There is great benefit in taking this step. It is estimated that the potential of this system is around 7 trillion dollars ” he said.

The President’s call to convert dollars to gold and the Central Bank’s gold purchase decision created doping effects in the jewelry industry. While gold sales are folding in a week, it is expected that 55 tons of gold,under the pillow, will be given for the economy.  President Recep Tayyip Erdogan’s call for convert currency to gold or TL, followed by the decision of the Central Bank of the Republic of Turkey to start the purchase of physical gold in order to increase the savings rates,  made the jewelery industry take action. The citizen who has exchanged foreign currency attacked gold. According to Betül Alakent / İbrahim Acar from Sabah, retail gold sales increased in a week. With the decision of the Central Bank of the Republic of Turkey (CBRT), 55 tons of gold, under the pillow,is expected to earn for economy.

At the gold reserve;

USA is the leading country.

Gold reserve (Ton)

USA        8.133 

  Germany 3.377 

  IMF 2.814 

  İtaly 2.452 

  France 2.435 

  China 1.839


 Swiss 1.040 


 Nerherlands  612.5 


 Euro Zone 508 



It is difficult to make precise estimates of how much accumulation is under the pillow. General Manager of the Turkey Office of the World Gold Council Murat Akman says “I have been in this business for 11 years, and during that time I only saw estimates of 800 tons to 8,000 tons of gold under the pillow. ”

In fact, the figures spoken in the foreign exchange market generally vary between 15 and 40 billion dollars. Assoc. Dr. Mesut Eren, professor of Istanbul Kültür University, suggests that there are 100 billion dollars in foreign currency under the pillow. Capital’s estimates are in a wide range. Accordingly, the amount of savings held under “pillows” ranges from $ 25 billion to $ 100 billion. An economist explains the importance of this amount with these words: “After the February crisis, the IMF announced that it would give $ 17 billion in loans to Turkey, which was very favorably received by the markets. However, the amount under the pillow is many times higher than this. This comparison proves better the effectiveness of this money’s return to the system.


“It’s hard to give up from the gold”

Prof. Dr. Ege Cansen thinks that the money under the pillow ruins the balances in the economy and causes interest rates to rise. Cansen: “When we look at the real economy side, we see that a bigger financial system is needed. There are about $ 100 billion in deposits in the banks. I wish it was $ 200 billion. In this way, the economy will return faster, interest rates will decrease, and the number of firms that went bankrupt will also decrease. ” said.

Murat Akman, General Manager of the Turkey Office of the World Gold Council, in spite of everything, thinks that gold is an investment tool that investors will give up last. Akman continues: ” Gold is a metal that is determined by international stock markets. So people always consider it a disaster insurance tool. And they do not want to leave it.”

Prof. Dr. Deniz Gökçe says that the accumulation under the pillow must be brought into the system in order for the financial sector to develop. Prof. Dr. Gökçe’s views on the subject are as follows: “I think there’s $ 60 billion in gold under the pillow. If we think that this amount is about the total domestic debt of Turkey, we import this gold with foreign currency, we understand the economic damage more clearly. Of course, the amount of foreign exchange under the pillow, which is thought to be 15 billion dollars before the crisis, also increased after the crisis. Although the value of gold is constantly falling, we can not give up. So these gold are not turning into the economy. But if we evaluate these gold in deposits, that is, if we hold it in the bank, the financial sector will grow to a significant extent. Thus, both the financing needs of the Treasury are met and the budget deficit is reduced. ”


“GOLD” under the pillow

It is estimated that the Turkish people have 5 thousands tons of gold,under the pillow. However, since 2011, the amount of gold involved in the system has been kept at 60 tons for the campaign aimed at earning gold for the economy. Despite the campaigns made, the amount of gold inserted into the system is too low. In that case there is a question : “Are the 5,000-ton estimates made on the amount of gold held by the Turkish people were exaggeration?”

While projects are being developed in our country to increase the savings that are low with the support of the government, studies have been initiated in order to make the investments under the pillow economical from the other side. Thus, since 2010, the banks are trying to earn the gold under the pillow to the economy with the application of “Golden Days” in order to earn the scrap gold to economy. Monetary value of gold that the banks have collected so far, has remained at only $ 2.5 billion. The habit that started by keeping our money “under the pillow” and the money they had reserved for hard days, won a great dimension over time. Now it has become an economic power because of including billions of dollars in foreign exchange and gold. While the estimate of the experts was around 25 billion dollars today it is estimated that this amount is 100 billion dollars. However, clear predictions do not remove the enormous power. Along with it, it is increasing with the crisis. At the beginning of the work, this name was called “Black Day Money” and the Elders referred to it as “Shroud Money”. Over time the “under pillow” factor grew. The amount of money left for hard times increased.  We are now experiencing the reality of a “pillow-bottomed economy” in our country even if the reasons are different. It is estimated that in a serious situation relative to the gross national product, especially in the banking sector, even if the size of this financial entity, which prefers to maintain its existence systematically and indifferently. Especially in the banking sector,  even if the size of this financial entity, which prefers to maintain its existence out of system and unregistered is un predictible, it is expected that it is in a serious amount relative to the gross national product.

Because of the economic downturn that has lived for a while, the “under pillow” factor has come back on the agenda. When we accept the experts’ estimates as a basis, it is possible to get a clearer picture in terms of “pillow gold” prediction. The revealed data reveal the size of the work.

The “gold” under the pillow is one of the traditional saving methods of the Turkish people. It is at the top of the guarantee methods preferred by the Turkish citizen. Let’s examine the data presented: Prof. Dr. Deniz Gökçe, has the idea of there is $ 60 billion in gold under the pillow. This amounts to about 7 thousand tons of gold for current prices. Economist Uğur Civelek argues that gold under the pillow is around 500-2 thousand tons (about 12-17 billion dollars). However, Murat Akman, General Manager of the Turkey Office of the World Gold Council, estimates 3500 – 4500 tons (about 30-38 billion dollars) for the amount of gold under the pillow. However, according to Akman, only 5-10% of this gold can be returned to the system. “Because 80 percent of it is used as jewelry. The remaining 20 percent is made up of Republican gold and Ottoman coins. It is very difficult to return to the system because a significant part of the Ottoman coins are considered as numismatic. Therefore, only 350-450 tons of gold can return to the system ” Akman says.



A memorial on Çamlıca Hill – Grand Çamlıca Mosque

A memorial on Çamlıca Hill


Grand Çamlıca Mosque

The construction of Çamlıca Hill Mosque project began at 29 March 2013; and it is proceeding at full speed along with architect Haci Mehmet Güner and his large working team. By using modern elements in Neoclassical style with reference to architectural manners of Seljuk-Ottoman, the chief architect Hacı Mehmet Güner and his large team created an artwork which has characteristics of;

A Memorial,

A Symbol,

And A Period artwork.

It is expected that the artwork in progress will take place among the most important works of Turkish – Islamic history considering the value it will add to the city silhouette on the direction facing to the West.

Within the structure, a social complex consisting several social areas such as:

Workshops which provide living space for Turkish – Islamic arts,

International art galleries where exhibitions can be held,

Turkish and Islamic Arts Museum,


Multi-purpose hall,

Conference room,

Observation terraces and

Parking garage is being built.


The artwork which will be located on a land of 57,500 m² will consist of a 10,000 m² of mosque, a 7,000 m² of courtyard and 13,000 m² of seatings, park zones and ornamental pools.

Worship services will be provided for 37,500 people in the mosque, and considering the outer court and firm ground, approximately for 60,000 people in total. In addition, a conference hall with a capacity of approximately 1000 people will be also included in the mosque social complex in the scope of this project. Around the mosque, walking trails and green fields are planned to be built.



The four of total six minarets around the mosque will be 107,10 m. Calculated by taking the own proportion of the structure into consideration, the height of minarets which are the same as the time when we first arrive at Anatolia makes the artwork more important. The other two 90 m tall minarets were built in the courtyard side.

The structure which its all gauges has been determined by the golden ratio method is shaped in this direction.

At the Istanbul Jewelry Show CNR EXPO which was held this year for the 43rd time, exhibiting Grand Çamlıca Mosque – the greatest mosque of Turkey – at Nadir Metal Refinery booth will fill us with pride; and we will be honored to see you among us.

The construction of the mosque which lasted for 71 days is being put into final form with the great patience and efforts of 27 master. 75 kg cast silver for the dome, roof cantilevers, minarets and fountain area; 25 kg cast gold for the minaret pillars, minaret balconies and edge finials are shaped with hand looms by our experienced masters; and prepared in accordance with the architectural plans.

The mosque which is 185 cm tall and 85 cm wide has a height of 105 cm. And the material used in total is 233 kg of 680 gr gold, 73 kg of 540 gr silver, 1805 piece of 100 gr gold bars, 1384 piece of 20 gr gold bars and 75 piece of 100 gr silver bars.


Nadir ranked 112th on Capital 500.

haber1Capital Magazine which is held traditionally as “Capital 500” gave awards to companies based on research results amongst Turkey’s largest 500 private companies.

Capital 500 is the list which determinesTurkey’s largest 500 companies prepared according to 2015 data, Nadir Metal Refinery succeeded in taking the 112th place in the list.

















Nadir ranked 92th on Fortune 500 List!

Fortune 500, which is accepted by business world as referance, determines Turkey’s largest 500 firm, includes financial institutions and other holding firms apart from sectors, announced the list prepared according to 2015 data.
Nadir takes 92th place in the list, continued to maintain its stable stance.

Nadir is a company that has succeeded in becoming an international brand in its sector with the products that breaks ground in the world today, superior standards that it caught in production of these products and investments it has made.

Nadir Metal crowns this success with the awards it has received and the lists it has entered fromthe top ranks in its field and continues to accelerate its success every year in a stable way.

















Nadir Is at 56th Rank in ISO 500 List!

Untitled-2Nadir, which protects its place at high ranks of the list, “Turkey’s the Biggest 500 Firms”, maintains its stable stance through holding 19th rank in 2012, 29th rank in 2013, 60th rank in 2014 and 56th rank in 2015.

The leader gold refinery firm in its sector, Nadir Metal, continued its enhancing graphic in a stable way through protecting its high ranked place in the list of “Turkey’s the Biggest 500 Firms”. The work “Turkey’s the Biggest 500 Firms”, which has been started as “100 Big Industry Establishments” in 1968 and has been sustained with advancing every year, is at the characteristics of a strong mirror that reflects Turkish economy. Through “Turkey’s the Biggest 500 Firms” work, important contributions are ensured to detect the road map directed to future, to see Turkish industrial development and to X-ray the real situation that cannot be found anywhere else. Nadir Metal continued to maintain its stable stance through holding 19th rank in 2012, 29th rank in 2013, 60th rank in 2014 and 56th rank in 2015 in the list that is updated every year based on the previous year’s data. Nadir Metal, that enters among the biggest industrial companies in Turkey in recent years and also takes its place in high ranks in the lists that are announced by independent foundations, has made its name written among the biggest 60 companies in Turkey. The firm, founded by Nadir Tütüncü during 1960s, took its place in jewelry sector with goldsmith work firstly. As of today, Nadir Metal, that process valuable materials in its advanced technology equipped factory, has the capacity of 150 tons of gold and 200 tons of silver yearly, has reflected its accumulation of years to statistics.

Our nation and has shown its power to the whole world as a unity

Our nation showed its force, magnitude, justice and many other its traits to the world as a whole and unity.

Thanks to God.

As being Grand Bazaar tradesmen, we wish the best for our nation and we wish God’s mercy and grace for our martyrs who lost their life in national struggle also wish the rest in the divine light. Their blood is as sacred as the blood of the martyrs of Çanakkale.

The duty that we have to do accomplish now is to maintain our business and to know awareness of our responsibility.

For some security reasons, our shops may not be open for a while. However, we will be keeping our promise and protect our sacred homeland.

From Nadir to Giza


It is believed that the Giza Pyramids were built during old kingdom period approximately in 3000 BC. These are Khufu, Khafre and Menkaure pyramids, and they were named after the pharaohs who had them built.

Pyramids of Giza are the world’s largest pyramids; and the construction of them still remains a mystery. Assuming that the workers superimposed 10 cubic meters of stone per day with an extraordinary effort, 2.5 million cubic meters of stone located in Khufu Pyramid could be placed in 250.000 days – namely 664 years. However, the pyramids had been completed in a period of 20-30 years.

Also called the Great Pyramid, Khufu Pyramid is the tomb of  Khufu – one of the 4th dynasty era rulers – who reigned in about 2800 BC.  When it comes to the seven wonders of the world, the only artifact that reached the present day is the Pyramid of Khufu in Egypt.

The second largest pyramid Khafre belongs to emperor Khafre who had become pharaoh after the death of his brother Khufu. The pyramid of Khafre is referred to as the second pyramid. It was built after the Pyramid of Khufu.

And the small pyramid of Menkaure belongs to Menkaure who reigned in about 2500 BC. Menkaure Pyramid is the smallest pyramid of Giza. It was completed after the death of Menkaure by his son Shepseskaf.

For those of us who brought many innovations in the previous meetings under the guidance of history by protecting the history, it is essential to carry on fulfilling the necessities of our customer standarts and historical mission. That being said,  at the CNR EXPO 2106 March Fair which was held this year for the 42nd time, we are joyous and proud of presenting the Egyptian Pyramids to our domestic and foreign customers’ taste.

For the production of Nadir Metal’s Giza Pyramids which made from 157 kilograms of gold, 1408 pieces of 100 grams of gold and 160 pieces of 100 grams of corner mould were used.  After a 45 day period of planning and construction phase accompanied by a team of 25 professional craftsman, it had become presentable to our visitors’ taste. 

This service of demonstrating the historic process of the pyramids we are offering to our people with micro-opportunities is an indication that the agelong mystery of the pyramids is enough to excite Nadir as well as the mankind. As such in everything that comes to light, this mystery will also attract the curiosity of human history forever and ever. 

LBMA / LPPM Precious Metals Conference 2015

LBMA / LPPM Precious Metals Conference 2015
18.-20 October 2015

Senior representatives of all sectors of the precious metals markets will be in attendance at the LBMA/LPPM Precious Metals Conference, the premier event in the industry calendar. Now in its 16th year, the Conference adds insight into the vital issues affecting the precious metals markets. The 2014 Conference was held in Lima, with more than 400 delegates in attendance from 37 countries and 188 separate companies represented. This year’s conference brings us back to Europe for the first time since the conference in Rome in 2013, when we had record attendance of more than 800 delegates.



The most precious of the exposition “Nadir Metal’s Maiden’s Tower”


Dating back 2,500 years, this unique structure has lived through a history which is equivalent to İstanbul’s, and became an eyewitness to whatever this city has encountered. From Ancient Greek to Byzantine and Ottoman Empires, with a history that began in ancient times, it has been able to come so far while existing in all historical periods. 

There are many legends told about the Maiden’s Tower which has been used for many purposes up to the present; such as the Snake Story, BattalGazi, Lion Gate, the Story of Famous Poet NazımHikmet…

The past is our other half. At the previous March Exposition, we said hello to our country and world marketfrom past to present by means of the commemorative coins prepared in memory of Çanakkale victory’s 100th anniversary. This year as well, we prepared the Maiden’s Tower project with the same enthusiasm as the custodians of the heritage left to us. Rather than us, the combination of east and west created by the exerted manual labor and technology was the cause of the intense interest shown by the local and international press. As Nadir Metal, we exist as long as we create a link between the past and the present, and we will continue to be there.

At the CNR EXPO October Fair which was held this year for the 41st time, attracting our customer’s and world press’ attention, the golden Maiden’s Tower hit the headlines for four days of exhibition as the most talked about project of the fair. The build phase of the Maiden’s Tower was completed in 25 days by our craftsmen. For the tower walls which weigh 71,640 grams in total, 100 grams and 50 grams of 24-carat gold; for the roof and housetops, 1 gram of Nadir 22-carat gold; and for the base and domes, 24-carat cast gold has been used. 

When we evaluate the fair in general, in addition to the great interest in the Maiden’s Tower, we can say that we left behind quite a productive exposition period while providing the opportunity to introduce our products to our local and foreign customers as well as having the chance of meeting face to face with our customers who have been growing with us for many years.