08.06.2026 10:50
A striking forecast has emerged for the gold market, which is under pressure from strong US employment data, the Fed's interest rate policy, and China's slowing purchases. Gold and Money Markets Expert Candaş Atalay stated that summer is traditionally a "rest period" for gold, and claimed that by the end of the year, gold per ounce could reach $5,500, while gram gold could rise by a historic 56% to the 9,000-10,000 TL range, influenced by the dollar/TL exchange rate.
A groundbreaking prediction has been made for the gold market, which has been under pressure due to strong economic data from the US and the Fed's interest rate policies. Gold and Money Markets Expert Candaş Atalay forecasted that the ounce price of gold could rise to $5,500, and the gram price to 10,000 TL by the end of the year. This prediction implies a massive 56% upside potential from current levels.
US DATA AND RATE EXPECTATIONS WEIGH ON GOLD
Gold prices have recently retreated under the influence of strong economic data from the US. Particularly, employment data released in May, which exceeded expectations, has fueled anticipation that the US Federal Reserve (Fed) might keep interest rates higher for longer. Higher interest rates globally steer investors toward the US dollar, increasing pressure on gold, stocks, and crypto assets.
LIQUIDITY SLOWDOWN IN CHINA'S RESERVE PURCHASES
Evaluating the moves of China, the world's largest gold importer, Expert Candaş Atalay noted that the People's Bank of China has experienced a loss of momentum in its gold reserve buildup policy, which had continued uninterrupted for about 22 months, over the last two months. Atalay stated that the withdrawal of approximately $260 billion in liquidity from the Chinese market has limited the flow of funds into gold on a global scale.
"SUMMER MONTHS ARE A REST PERIOD FOR GOLD"
Referring to gold's historical cycles and performance, Atalay advised investors not to act hastily during short-term fluctuations: "Looking at the last 25-year period, we see that gold's strongest upward movements typically occur in January and August. Summer months are traditionally a rest and calming period for gold. Therefore, the current stagnation should not be misleading."
RECORD TARGET: OUNCE $5,500, GRAM GOLD 10,000 TL!
Stating that he maintains his optimistic and ambitious expectations for the end of the year, Candaş Atalay also highlighted oil prices, which raise global inflation concerns, and shared his long-term predictions. Atalay emphasized that the $5,500 level could come into play on the ounce gold front. Domestically, he added that due to both this upside potential in ounce gold and the multiplier effect of the USD/TRY exchange rate, it is highly probable that gram gold will jump from the 6,400 TL level to reach the 9,000 TL to 10,000 TL band by the end of the year.
* THIS IS NOT INVESTMENT ADVICE