18.02.2025 09:00
Tensions in global trade and geopolitical risks are driving up gold prices. Gold per ounce started the day above the $2,900 level, while gold per gram is trading at 3,396 TL. On the other hand, banks have revised their growth forecasts for 2025 upwards.
Gold rose to $2,910 with a 0.4% increase in the first transactions of the day. The gram gold changed hands at 3,396 Turkish Liras. The quarter gold was priced at 5,584 Turkish Liras.
U.S. President Donald Trump's mutual tariff plan escalated global trade tensions. This situation strengthened the safe-haven appeal of the yellow metal.
Here are the details of gram, quarter, half, and ounce gold prices on Tuesday, February 18, 2025:
Gram gold selling price: 3,388.56 TL
Quarter gold selling price: 5,694.00 TL
Half gold selling price: 11,383.00 TL
Full gold selling price: 22,564.02 TL
Republic gold selling price: 22,680.00 TL
Gremse gold selling price: 56,583.08 TL
Ounce gold selling price: $2,908.41
U.S. GIANT GOLDMAN RAISED ITS FORECAST
U.S.-based investment bank Goldman Sachs made a new prediction regarding gold. Goldman Sachs revised its year-end gold forecast upwards.
The previously set target of $2,890 per ounce has been raised to $3,100.
The bank predicts that "higher central bank demand will increase gold prices by 9% by the end of the year, and this will combine with a gradual increase in ETF assets as the fund rate decreases."
However, if policy uncertainty remains high, including tariff concerns, Goldman sees the potential for gold to reach $3,300 per ounce by the end of the year due to long-term speculative positioning.
"GOLD MAY EXCEED $3,200"
Switzerland-based UBS also revised its previous forecasts, predicting that gold prices could exceed $3,200. As gold tests record levels in the sixth week of the new year, analysts noted that strong market optimism, investors not taking enough positions at low levels, and high demand from the official sector are the driving forces.
"UNPRECEDENTED VOLATILITY"
"We are still in February, but a lot has happened in the financial markets. Looking specifically at the gold market, unprecedented price movements and record levels have been recorded since the beginning of the year," said UBS strategist Joni Teves, explaining that the bank revised its forecasts due to updated market conditions.
WILL SEE THE PEAK IN THE LAST QUARTER OF 2025
Teves predicts that gold will reach its peak level in the last quarter of 2025, stating, "Our new assessment shows that gold will rise to a higher level than we previously predicted."
According to UBS, due to missed short-term buying opportunities in 2024, investors may adopt a 'carpe diem' approach and respond more quickly to market corrections. The bank also pointed out that liquidity squeezes could further accelerate the gold rally and that prices could become sensitive to the increase in physical demand.