29.01.2026 15:21
Economist Mustafa Aşkın evaluated the record rise in gold prices on Haberler.com. Commenting on the gold ounce approaching $5,600 and the gram gold reaching a historical peak of 7,816 lira, Aşkın emphasized that the end of this rise is unpredictable, stating that gram gold could easily exceed 10,000 lira.
Economist Mustafa Aşkın answered questions from Melis Yaşar on Haberler.com. Evaluating the sharp rise in gold prices, Aşkın stated that historical levels have been surpassed in terms of ounces, and that the price of gram gold could exceed 10,000 lira by the end of the year.
"GRAM GOLD WILL EASILY EXCEED 10,000 TL"
Economist Mustafa Aşkın, regarding the sharp rise in gold prices, said, "Believe me, no one in the world knows the answer to this question. If you ask why, we have already surpassed the points that can be reached in both fundamental and technical terms. Therefore, this is a very sharp rise. As I said, many, including investment banks, are revising their targets. Banks that set targets of 7,000, 7,500, and 6,500 dollars have started to increase. If we take the gram price as 6,500, we can easily say that it will exceed 10,000 lira by the end of the year if this story comes true. However, we may also see a period where the acceleration slows down a bit in the upcoming process. Just until November of this year, there will be midterm elections in America, and Trump's interesting economic and geopolitical policies will continue," he said.
"A $500 INCREASE IN 72 HOURS IS RARELY SEEN"
Pointing out the recent movements in gold prices, Aşkın said, "Undoubtedly, for example, yesterday, gold suddenly gained 500 dollars in the last 72 hours, or rather, in terms of ounces. This is something very rarely seen in the world. You know, 500 dollars is a very high figure in terms of ounces. Similarly, it can drop 500 dollars in a day or two, but it is extremely difficult to predict from which level and for what reason this will happen. But I can express this; when it comes down from 5,500 dollars to 5,000 dollars or from 5,000 dollars to 4,500 dollars, new buyers will come into play this time. Because there is no change in the main trend. Even if the acceleration does not increase much, it seems that the upward movement will continue as it corrects," he stated.
"THIS MOVEMENT MAY REFLECT ON AGRICULTURAL COMMODITIES AS WELL"
Aşkın noted that the rise in gold is also reflected in other commodities, saying, "There is a reflection of this on other industrial metals as well. Copper, tin, palladium, etc. We can easily say that a certain acceleration can continue in them, but once it starts to calm down, know that there may also be acceleration or a high influx of money in agricultural or daily commodities we use. Cocoa, coffee, wheat, cotton are the most typical examples of these. Both investors and producers need to be careful in this regard," he said.