11.06.2026 09:01
Gold prices recovered after hitting the lowest level in seven months ahead of the U.S. producer inflation data. With expectations regarding the Fed's interest rate policy and the impact of U.S.-Iran tensions, safe-haven demand strengthened again, and the gram gold rose to 6,052 lira after testing below 6,000 lira.
Gold prices in global markets turned upward ahead of the Producer Price Index (PPI) data to be released in the US. Gold, which tested its lowest levels in recent months, recovered some of its losses as investors shifted back to buying.
While expectations regarding the US Federal Reserve's (Fed) interest rate policy continue to influence market direction, rising geopolitical tensions in the Middle East also supported safe-haven demand.
GOLD RECOVERED FROM BOTTOM LEVEL
The spot gold ounce price fell to $4,022 during the day, hitting its lowest level in months. However, gold then rose with subsequent buying, gaining 0.4% to reach $4,089.
US gold futures contracts fell 0.5% to trade at $4,111.
Domestically, gram gold also rebounded after dipping below 6,000 lira. Gram gold is trading at 6,052 lira levels.
$4,000 LEVEL BECAME CRITICAL SUPPORT
Market experts note that the $4,000 level stands out as a strong psychological support point for gold.
Analysts state that investors who took short positions are booking profits, and buyers returning to the market contributed to the price recovery.
MARKETS EYE US DATA
The latest data released in the US indicated ongoing inflation pressures. Driven by rising energy prices, consumer inflation recorded its fastest increase in three years in May.
Now, markets are focused on the US Producer Price Index data to be released. This data is expected to provide important signals about the monetary policy the Fed will pursue in the coming period.
INTEREST RATE EXPECTATIONS WEIGH ON GOLD
Experts note that although gold is seen as a hedge against inflation, the high-interest-rate environment is putting pressure on the precious metal.
Traders in the futures markets are pricing in a more than 70% probability of a Fed rate hike by the end of the year. This expectation is cited as one of the main reasons for the selling pressure seen in gold prices recently.
MIDDLE EAST TENSIONS INCREASED SAFE-HAVEN DEMAND
Developments on the geopolitical front are also being closely monitored by markets. The US announcement of strikes on some targets in Iran and the rise in regional tensions directed investors toward safe-haven assets.
Oil prices also surged after Iran announced the closure of the Strait of Hormuz. Increasing geopolitical risks were among the factors supporting demand for gold.
CURRENT STATUS OF OTHER PRECIOUS METALS
A rising trend was also notable in the precious metals market. Spot silver rose 0.3% to $63.86, while platinum gained 0.6% to reach $1,673. Palladium increased 2.2% to $1,239.