08.06.2026 09:50
Rising tensions in the Middle East and strong employment data from the US have shifted the balance in the gold market. Gold, which fell to its lowest level in the last two months last week, is trading above the $4,300 per ounce mark on the first day of the new week due to geopolitical risks. Meanwhile, gram gold is currently trading at 6,396 lira.
The renewed rise in tensions in the Middle East and the upward movement in oil prices have triggered inflation and interest rate concerns in global markets. Gold, which lost approximately 5% last week, hitting its lowest level in two months, started the new week under the shadow of geopolitical risks. On Monday, a balancing effort just above $4,300 per ounce was notable in global markets.
CRISIS SHOOK MARKETS
Iran's missile strike against Israel in retaliation for military activity in Lebanon increased regional fragility. Although the Israeli army stated that all missiles were neutralized and no casualties occurred, the crisis threatening the energy corridor in the Strait of Hormuz pushed oil prices upward. The risk of disruption to energy supply from the Persian Gulf rekindled inflationary concerns on a global scale.
FED'S RATE HIKE EXPECTATION CREATES PRESSURE
Another significant factor in the fluctuation of gold prices is macroeconomic data from the US. Stronger-than-expected US employment data strengthened expectations that the US Federal Reserve (Fed) could raise interest rates in the last quarter of the year. While the probability of a rate hike in December was priced at 50% before the employment report, this rate surged to 70% after the strong data, creating serious pressure on gold prices last week.
HERE ARE THE FIRST PRICES OF THE WEEK
On the first trading day of the week, the following figures are being tracked in domestic and international gold markets:
Gold per Ounce: Starting the day at $4,329, gold per ounce tested the lowest level of $4,300 and the highest level of $4,353 during the day. Gold per ounce is currently balancing around $4,317.
Gram Gold: Starting the day at 6,410 lira in the domestic market, gram gold moved within a band of 6,373 lira at its lowest and 6,451 lira at its highest during midday. Gram gold is currently trading at 6,396 lira.