29.10.2026 12:45
Gold and Money Markets Expert İslam Memiş explained the "secret plan" in global markets on the day when, as of October 28, 2026, gold per gram had fallen to 6,482 TL and oil had exceeded 111 dollars, stating that a strategy aimed at reducing central banks' reserves was being implemented and that a significant decrease would occur in the number of retail jewelers by 2030.
While the decline in gold prices and the sharp rise in oil prices continue to be the main agenda item of global markets, a "hidden plan" claim that will shake the markets came from Gold and Money Markets Expert İslam Memiş.
Gold prices started the day with a decline. As of 14:57 on October 28, 2026, gram gold was trading at 6,482 TL, while spot gold was priced at $4,048 as of 15:12. On the other hand, the price of a barrel of Brent crude rose by approximately 1.6 percent compared with the close to $111.22 as of 09:00. As this contradictory movement in the markets continued, Memiş, in a live broadcast, both evaluated the claims of shutters being closed in the jewelry sector and explained the financial strategy being pursued on a global scale.
RESPONSE TO THE CLAIM THAT JEWELERS ARE CLOSING SHUTTERS
Responding to claims that jewelers in the Grand Bazaar have begun closing, that closed shops are being replaced by stores selling spices, souvenirs, and counterfeit products, and that many factors from high rents to weak domestic demand are putting pressure on the sector, İslam Memiş made the following assessments: "True. I frequently wrote about it in my columns last year as well. In particular, I frequently stated that many jewelers across Turkey would close their retail stores by 2030. Especially the first blow was due to the import ban; there were those spreads, and there were workmanship fees of up to $12,500 on physical gold. These workmanship fees ended this year, but as a result, these workmanship fees caused significant losses. In the Grand Bazaar market, shop rents are collected annually in advance in gold. That is, here on the streets, for example, they rent for 1 kilogram of gold, and in nicer locations for 2 kilograms of gold, based on gold. Since there was regularly a return of 50% or more on the gold side every year except this year, because of the rise, naturally shop rents have now become unstoppable. On the side of worked gold, again due to the spread, there is a significant decrease. I estimate that jewelers with high rents will once again be on the verge of closing, and I think there will be a significant decrease in the number of jewelry retail stores until 2030."
"GOLD IS NO LONGER JEWELRY BUT AN INVESTMENT INSTRUMENT"
Memiş, also touching on the change in investor profile, continued his words as follows: "Investor habits have now changed as well. Previously, there were very intense sales in worked gold, but gold in Turkey has now ceased to be jewelry and ornament. It has turned into an investment instrument. Here, in gram gold, Republic gold coins, and quarter coins, because the buy-sell spread is very small, this does not cover shop rents. Therefore, since last year I have been stating that there will be a serious decline in the number of retail jewelers in the jewelry sector until 2030, and the same view still applies."
"LET ME EXPLAIN THE HIDDEN PLAN TO YOU"
Memiş, explaining the global strategy behind oil rising and gold being suppressed in the markets, conveyed his striking "hidden plan" analysis as follows: "We have again started a day when oil is high. We are above the $110 level. All assets against oil are again under selling pressure. Let me explain the hidden plan to you here. The hidden plan is this: they again force central banks, Gulf countries, and investors trading in ETFs to sell gold. In other words, they force central banks to reduce their reserves. The more central bank reserves decrease, the more their competitive power will be reduced. And the important question is this: while gold prices are being strained and suppressed so much, while a hidden plan is being implemented here, who is buying? Of course, primarily China and other central banks are significantly increasing their gold stocks. That is why we are again facing a day when oil rises and gold prices and silver prices decline. This evening we will follow the interest rate decision of the US Federal Reserve, the Fed. Tomorrow, due to the official holiday, the markets are closed. We will follow the European Central Bank's interest rate decision tomorrow and Lagarde's statements."