10.04.2026 11:42
Gold prices limited their decline on the last day of the week but maintained an upward trend, while the focus of the markets was on the inflation data to be released from the U.S.; spot gold was trading at $4,761, and gram gold was at 6,835 TL, with the inflation data expected to influence the Fed's interest rate policy.
Gold prices experienced a limited decline on the last trading day of the week, but maintained an upward trend on a weekly basis. In global markets, attention is focused on developments in the Middle East and inflation data expected from the United States.
UPWARD TREND CONTINUES ON A WEEKLY BASIS
Due to the strengthening dollar and uncertainties regarding the US-Iran ceasefire, gold prices slightly declined on Friday. However, gold, which gained approximately 1.8% in value on a weekly basis, is preparing to close the third consecutive week with an increase.
LAST STATUS OF OUNCES AND GRAMS OF GOLD
Spot gold fell to $4,761 per ounce, recording a decrease of 0.08%. In the domestic market, gram gold is trading at 6,835 lira, while it has provided a gain of approximately 2% to its investors on a weekly basis.
TECHNICAL LEVELS UNDER MONITORING
Analysts indicate that the support level for gold is at $4,737 per ounce, stating that if this level is broken, prices could decline to the range of $4,604-$4,663. In upward movements, $4,787 is highlighted as a resistance level, and if this level is surpassed, an increase to the range of $4,820-$4,855 could be observed.
HORMUZ STRAIT AND OIL PRICES
Developments regarding the Hormuz Strait are also being closely monitored in the markets. The US accusing Iran of breach of commitment has increased uncertainties about the future of the ceasefire. Nevertheless, Brent oil prices showed a decline of more than 11% on a weekly basis with expectations that the strait could reopen.
INFLATION DATA EXPECTED
Gold, which lost value after the US-Israel-Iran tension, has recently found support again with inflation and interest rate expectations. Market experts state that the upcoming inflation data will provide important signals regarding the US Federal Reserve's interest rate policy.
WHEN IS THE FED INTEREST MEETING?
The Federal Open Market Committee (FOMC) meeting of the FED will be held on April 28-29, 2026. The critical interest rate decision will be announced to the public on the second day of the meeting, Wednesday, April 29, at 21:00 (TRT). Immediately after the decision, it is expected that FED Chairman Jerome Powell will hold a press conference to share details about economic projections.
MIXED TREND IN OTHER METALS
In precious metals, movements were observed in different directions. While silver recorded an increase, platinum experienced a decline, and palladium showed a limited increase.