23.03.2026 08:50
Gold prices started the week with a sharp decline due to rising tensions in the Middle East and increasing global interest rate expectations. The ounce of gold, which fell to $4,300, has reached its lowest level in about four months. In the Grand Bazaar, the gram of gold is trading at 6,750 lira.
Gold prices started the week with a sharp decline due to rising tensions in the Middle East and increasing global interest rate expectations.
LOWEST LEVEL IN THE LAST 4 MONTHS
Spot gold fell to $4,366 per ounce, down 2.9%. Thus, gold reached its lowest level since January 2. Having lost more than 10% in value last week, gold continued its decline for the ninth consecutive trading day.
GRAM GOLD
Following the historic declines in gold ounces, the downward movement in gram gold continues. The price of gold per gram started the new week at 6,222 lira, down 2.9%.
The physical gram gold selling price in the Grand Bazaar was 6,750 TL in the morning hours, while the quarter gold was traded at 11,066 TL.
INTEREST RATE PRESSURE DROPPED GOLD
The tensions in the Middle East and the high levels of oil prices have had an impact on gold prices. After the standoffs between the US and Iran over the weekend, oil prices remained above $110. This situation increased inflation and interest rate pressure in global markets.
CRITICAL LEVEL FOR GOLD OUNCES IS $4,135
Analysts indicate that the levels of $5,055 and $4,665, where the 50 and 100-day averages intersect, have been broken below. If the price remains below these levels, a pullback to $4,135, which indicates the 200-day average, is considered possible.