15.04.2026 13:22
As the week progressed in global markets, gold prices continued their upward trend; while ounce gold tested its highest level in the last 4 weeks, a premium exceeding 2% in gram gold also drew attention.
As mid-week trading begins in global markets, notable activity is observed in gold prices. After closing last week at $4,749, ounce gold entered an upward trend in the first two days of the week. The ounce price, which gained 2.14% yesterday and closed at $4,841, tested $4,871 in today's initial trades. Thus, the highest level since the post-March 18 period was seen in ounce gold. As of 06:05 Turkish time, prices continue to hover near the $4,820 level.
OVER 2% INCREASE IN GRAM GOLD
The rise in ounce gold was also reflected in the domestic market. As of April 15, 2026, gram gold started the day at the 6,935 TL level. Gram gold, which closed last week at 6,808 TL, recorded an increase of over 2%. In the Grand Bazaar, physical gram gold was being sold at 6,965 TL in the morning hours, while quarter gold was being sold at 11,430 TL.
DOLLAR DECLINED, MARKET APPETITE INCREASED
Among the developments affecting gold prices, the second round of negotiations set to begin in Pakistan between the US and Iran stands out. This development increased risk appetite in the markets while oil prices tested below $95. On the other hand, the dollar index retreated to its lowest levels in the last 1.5 months, falling to 98.1, signaling a return to pre-war levels. US 2-year bond yields continue to maintain a balanced appearance around 3.75%.
MORE MODERATE EXPECTATIONS FROM CENTRAL BANKS
The mentioned developments strengthened expectations in the markets that inflationary pressures might ease. This situation caused concerns about "hawkish central banks" to be replaced by a more moderate outlook. Gold prices, finding support particularly from the weakening dollar, accelerated their rise in the early days of the week. In today's trading, a more horizontal trend is prominent.
TECHNICAL LEVELS ARE CRITICALLY IMPORTANT
Analysts note that the 100-day average for ounce gold is at the $4,765 level and that this level has been exceeded with the recent rise. They emphasize that for the positive outlook to continue, sustainability above this level must be achieved. In the medium term, it is stated that the $4,977 level, where the 50-day average is located, could be targeted. Conversely, a warning is issued that if it falls below the $4,765 support level, selling pressure could increase.
GEOPOLITICAL RISKS ARE DETERMINATIVE FOR A SUSTAINED RISE
Saxo Bank Commodity Strategist Ole Hansen stated that for a sustained rise in gold, conflicts in the Middle East need to end. Analysts also emphasize that developments in the region and the course of oil prices continue to be decisive for the gold market.