05.11.2026 08:00
Following the midterm elections in the US and the sharp drop in oil prices, gold prices began to rise. While ounce gold reached $4,135, hitting a two-week peak, gram gold in the Grand Bazaar exceeded 6,700 lira. Gold and Money Markets Expert İslam Memiş stated that he expects a recovery in gram gold between 6,850 and 7,000 lira.
After the midterm elections in the US, the movement that began in global markets was also reflected in gold prices. Gold, which accelerated its rise after the sharp decline in oil prices, also started the morning of November 5 with gains. While ounce gold saw its highest level in two weeks, gram gold prices also continued their rise.
OUNCE GOLD AT TWO-WEEK HIGH
Ounce gold gained 3.36 percent in yesterday’s trading and completed the day at $4,061. Carrying its rise into the new day, the precious metal rose 1.8 percent as of 06:30 Turkey time on November 5, reaching $4,135. Thus, ounce gold saw its highest level in the last two weeks.
In the Grand Bazaar, the gram gold price also rose above the 6,700-lira level and started the day with an increase.
LATEST FIGURES IN GOLD
- Gram gold: 6,712.92 TL
- Quarter gold: 10,941.00 TL
- Half gold: 21,876.00 TL
- Full gold: 43,590.00 TL
- Gremse gold: 108,541.00 TL
- Pure gold: 6,692.84 TL
- Old quarter gold: 10,847.00 TL
- Old half gold: 21,527.00 TL
- Old full gold: 43,055.00 TL
- 22-karat gold: 6,271.27 TL
- Old Gremse gold: 107,537.00 TL
- Ata gold: 44,762.00 TL
- Old Ata gold: 44,494.00 TL
- 14-karat gold: 4,850.35 TL
İSLAM MEMİŞ: MARKETS GAVE A POSITIVE REACTION
Gold and Money Markets Expert İslam Memiş evaluated the movement in the markets after the US elections. Arguing that the election results were welcomed positively in the markets, Memiş said, “Trump is gone, the manipulation in the markets is over. The markets gave a positive reaction.”
Drawing attention to the rise in gold and silver, Memiş stated that at the time of his evaluation, gold was up 3 percent and silver was up 5 percent. He reported that ounce gold was at the $4,047 level in international markets.
“WE EXPECT A RECOVERY IN GRAM GOLD UP TO 7,000 LIRA”
Stating that there was a 100-lira increase in the TL price of gram gold, İslam Memiş said that at the time of his evaluation, gram gold was at the 6,530-lira level with a 3 percent rise.
Also sharing his short-term expectations for gold prices, Memiş said, “In the short term, we expect a recovery in ounce gold up to $4,200. On the gram gold side, we expect a recovery in the 6,850–7,000-lira range.”
HE DREW ATTENTION TO THE RISE OF THE DOLLAR
Noting that gram gold prices also receive support from the exchange rate, Memiş stated that the dollar had risen to 50 lira and commented, “Since the dollar has risen to 50 lira, gram gold continues to receive support from the dollar as well.”
Memiş’s forecasts regarding gram gold and ounce gold reflect short-term market expectations, while global developments and movement in the exchange rate continue to be determining factors in the course of gold prices.