16.10.2025 10:20
Economist Dr. Mahfi Eğilmez stated that global uncertainties are supporting gold prices, and mentioned that if China restricts its rare earth element exports, "no one will be able to hold onto gold." He also issued a warning to investors by saying, "When Trump, Putin, and Netanyahu are on the stage, gold must definitely be in the portfolios."
The former undersecretary of the Treasury and economist Dr. Mahfi Eğilmez emphasized that global political tensions support gold prices, issuing a warning to investors. Eğilmez stated, "When Trump, Putin, and Netanyahu are on stage, gold must definitely be in portfolios."
Evaluating the latest developments in the economy during a live broadcast on CNBC-e, Eğilmez pointed out positive signals regarding budget balance, IMF forecasts, and macro indicators. He noted, "The budget deficit of 1.2 trillion lira remained below expectations, and the non-interest surplus is also a positive development. The situation in the current account is good. This indicates that growth has started to decline," reminding that the IMF forecasts Turkey's growth at 3.5% and the unemployment rate at 8.3%.
WILL TURKEY BECOME ARGENTINA?
Addressing the frequently raised question in inflation comparisons, "Will Turkey become Argentina?", Eğilmez highlighted Argentina's discipline in public spending. He stated, "Argentina has taken significant steps to prevent public waste, thus reducing inflation from 300% to 30%. Turkey could also enter a similar stability process. In fact, we are reaching the point of 'I wish we were Argentina,'" he expressed.
"GOLD MUST DEFINITELY BE IN PORTFOLIOS"
Emphasizing that the gold market is directly connected to global power balances, Eğilmez said, "Where there is uncertainty, gold always appreciates. As long as Trump, Putin, and Netanyahu are around, gold must definitely be in portfolios, and it can even be held a bit higher."
"IF CHINA RESTRICTS RARE ELEMENTS..."
Eğilmez also stated that if China restricts the export of rare earth elements, "no one will be able to hold gold." Referring to the performance of investment instruments over the last 10 years, the economist shared, "Bitcoin has increased 1335 times in TL terms, gold 43 times, and silver 39 times. The increase in real estate is around 20 times."