31.01.2026 13:50
Islam Memiş, an expert in gold and currency markets, drew attention to the sharp decline in gold prices, stating that technical corrections may continue in February. Memiş emphasized that these pullbacks should not be seen as a cause for panic, but rather as an "additional buying opportunity." He argued that a conscious manipulation process is taking place in the commodity markets and noted that 2026 will be a year of volatility and intense guidance.
Gold prices experienced a sharp correction after reaching record levels. The gram gold, which rose to 8 thousand TL in the Grand Bazaar, quickly fell in both the free market and the Grand Bazaar, capturing the attention of investors. As of yesterday afternoon, the gram gold declined to 6 thousand 914 TL, losing approximately 900 TL in a single day.
SELLING PRESSURE INCREASED
Starting the day at 7 thousand 242 TL, the gram gold fell below 7 thousand TL during the day due to increasing sales. In the Grand Bazaar, prices were pulled down from 8 thousand TL to around 7 thousand 354 TL. On the gold ounce side, prices are trying to stabilize around 5 thousand 20 dollars.
FED UNCERTAINTY IS INFLUENCING
The announcement of a new Fed chairman in the U.S. has strengthened the search for direction in the markets. It is evaluated that if the new administration follows a more dovish monetary policy and accelerates interest rate cuts, gold prices may recover again.
GEOPOLITICAL DEVELOPMENTS UNDER MONITORING
The tension between the U.S. and Iran, along with developments regarding the Russia-Ukraine war, continues to cause fluctuations in the markets. Russia's willingness to temporarily halt attacks on Kiev and its surroundings has limited the demand for safe havens.
SHARP PULLBACK IN SILVER AS WELL
The decline in gold has also affected silver. The silver ounce, which set a record at 121.65 dollars, quickly fell to around 110 dollars. The daily loss approached 5%, while gram silver is trading around 155 TL.
ISLAM MEMİŞ'S FEBRUARY WARNING
Gold and Currency Markets Expert Islam Memiş stated that sharp pullbacks could continue in February, suggesting that these movements should be seen as a "buying opportunity." Memiş argued that there are conscious directions in the commodity markets, describing the year 2026 as the "year of manipulation."
"10 THOUSAND TL WOULD NOT BE A SURPRISE"
Memiş pointed out notable levels for gram gold in the long term, stating that if global developments accelerate in 2026, levels around 10 thousand TL would not be a surprise.