11.08.2026 10:10
Global uncertainties and strong demand from China have pushed gold prices higher. Spot gold rose above $4,400 per ounce, reaching a 2.5-month high, and was trading around $4,375 on the morning of August 11. Gram gold is selling at 6,742 lira, and quarter gold at 10,976 lira.
Gold prices rose for a third consecutive session on Tuesday, reaching their highest level in more than two months, influenced by rate expectations ahead of critical inflation data due in the US. With this increase, spot gold climbed to $4,412 per ounce, while gram gold rose to 6,773 Turkish lira.
LATEST SITUATION IN OUNCE AND GRAM GOLD
During this period, as investors focused on upcoming inflation data to glean clues about the future of US interest rates, spot gold rose to $4,412 per ounce as of 07:40 GMT, recording its highest level since June 5. In the domestic market, gram gold continued to trade at 6,773 lira, quarter gold at 10.86 lira, and Republic gold at 43,333 lira.
EXPECTATION OF '$5,000' FROM EXPERTS
Assessing this market movement, IG market analyst Tony Sycamore stated that the increase was triggered by fear of missing out (FOMO), the covering of some short positions from speculative accounts, and the return of safe-haven flows. Sycamore expressed his medium-term expectations, saying, "We expect prices to break out and pave the way for a stronger recovery toward $5,000."
CRITICAL DATA TO SHAPE MONETARY POLICY
The weak US July employment data released last week had lowered market expectations that the Federal Reserve would raise interest rates next month. Following this picture, the US consumer price index due on Wednesday and the producer price data due on Thursday are expected to directly shape monetary policy expectations for the upcoming period.