08.05.2026 05:58
Gold and Currency Markets Expert Mehmet Ali Yıldırımtürk stated that the downtrend in gold prices has ended and announced that a rise in gram gold is expected, especially after Eid al-Adha. The expert pointed to a short-term level of 8,000 TL, while maintaining the 10,000–11,000 TL range for the year-end.
Gold prices, which came under pressure in April due to geopolitical tensions and a sharp rise in oil prices, have resumed their upward movement with recent developments. Experts believe that an upward trend has begun despite short-term fluctuations.
INTEREST RATE PRESSURE DECREASED, GOLD RECOVERED
Gold and Foreign Exchange Markets Specialist Mehmet Ali Yıldırımtürk stated that tensions between the US and Iran pushed oil prices up, which created pressure on gold through inflation and interest rate expectations. Yıldırımtürk said, "Since the expectation of an interest rate hike is the biggest enemy of gold, prices were suppressed during this process."
NEW TARGETS SET FOR GOLD IN OUNCE
Recalling that the ounce price of gold dropped to $4,500 at the end of April, Yıldırımtürk noted that this level formed a strong support. The expert stated that with recent developments, permanence above $4,675 in the recovering ounce gold is important, and in the short term, levels of $4,750 and $4,850 could be targeted, while by June, $5,000 might be exceeded.
EXPECTATION OF MOVEMENT IN GRAM GOLD AFTER THE HOLIDAY
Yıldırımtürk stated that in the domestic market, inflation and the rise in the exchange rate support gram gold, and the gram gold is currently in the range of 6,700–6,800 TL. The expert said that sales may occur due to cash needs before Eid al-Adha, and they expect prices to rise again with increased demand after the holiday, testing levels of 8,000 TL.
YEAR-END TARGET 11,000 TL
Emphasizing that medium- and long-term expectations for gold have not changed, Yıldırımtürk announced the year-end target for ounce gold as $6,000. For gram gold, he stated that a range of 10,000–11,000 TL is projected, along with expectations of a rise in the exchange rate.
"VOLATILE BUT UPWARD"
Pointing out that geopolitical risks will not completely disappear, Yıldırımtürk said they expect a more stable upward process in gold prices rather than sharp jumps. "Fluctuations will continue, but the overall direction is upward," the expert said, emphasizing that investors should closely follow critical levels.
* THIS IS NOT AN INVESTMENT ADVICE