12.10.2026 07:30
Gold prices started the week with a rise, influenced by the weakening dollar and the decline in oil prices. While gold per ounce climbed to $4,206, gram gold traded at around 6,650 TL. Investors’ eyes turned to inflation data that could shape the US Federal Reserve’s (Fed) interest rate policy. Critical economic data to be released this week are expected to be decisive in the course of gold prices.
Gold prices started the new week with a rise, influenced by the weakening of the US dollar and the decline in oil prices. Spot gold, while testing its highest level seen since October 2, rose 0.3% to $4,206.01 per ounce as of 07:00 on Monday, October 12. Investors, meanwhile, began waiting for inflation data that could shape the US Federal Reserve's (Fed) interest rate decisions.
RISE IN GOLD PRICES
In global markets, gold prices entered the first trading day of the week with a rise. The depreciation of the US dollar and the decline in oil prices were among the developments supporting the price of the precious metal. After reaching its highest level since October 2 during the day, spot gold traded above $4,206 in the morning hours.
FALL IN OIL PRICES SUPPORTED GOLD
KCM Trade Chief Market Analyst Tim Waterer stated that the decline in oil prices and the calm course of the dollar opened room for gold to rise.
After US President Donald Trump announced a ceasefire in the energy sector between Russia and Ukraine, a downward movement occurred in oil markets.
While Trump announced that the energy ceasefire between the parties would take effect immediately, Ukrainian President Volodymyr Zelenskyy said they wanted to see the details of the agreement. Expectations that more oil could be supplied from Russia to global markets pushed energy prices down.
The decline in oil prices contributed to easing concerns about inflation and interest rates, while the weakening of the dollar also made gold more attractive to investors using other currencies.
MARKETS LOCKED ON US INFLATION DATA
Gold investors are focused on the inflation figures to be released in the US this week. The Consumer Price Index (CPI) to be released on Wednesday is important for expectations regarding the Fed's interest rate policy. The Producer Price Index (PPI) and retail sales data to be published on Thursday may also influence the direction of the markets.
Although gold is preferred as a hedge against inflation, high interest rates can limit demand for the precious metal, which does not yield interest.
CRITICAL WEEK FOR THE FED'S INTEREST RATE DECISION
According to CME FedWatch data, in derivative markets, the probability of the Fed raising interest rates in October is priced at 17%, while the probability of a rate hike by December is priced at 86%.
On the other hand, conflicts in the Middle East and the pressure of rising living costs on household spending caused US consumer confidence to continue declining at the beginning of October.
SILVER, PLATINUM AND PALLADIUM ALSO ROSE
Other precious metals also accompanied the rise in gold. Spot silver gained 0.5% to reach $61 per ounce, while platinum rose 1% to $1,704.70.
Palladium, meanwhile, rose 1.2% and traded at $1,161.81.
HOW MUCH ARE GRAM GOLD AND QUARTER GOLD?
On the price screen accessible on the morning of October 12, spot gram gold was at approximately 6,653 TL, while the last recorded selling price of free-market gram gold was 6,630.65 TL.
The last recorded selling price of quarter gold was 10,841.11 TL, while the selling price of Republic gold was 44,600 TL. It is noted that free-market and jeweler prices may differ, and the figures may change during the day.