28.10.2025 16:31
Gold prices continue to trend downward after reaching record levels. The price of gold per gram is 5,296 lira, while the price of gold per ounce is trading at 3,927 dollars. Delegates from the London Bullion Market Association (LBMA) predict that the price of gold per ounce could reach 4,980 dollars within the next 12 months.
Gold prices started the new week with a decline following last week's sharp loss. As of 3:30 PM, the price of gram gold is 5,296 lira, while the price of ounce gold is trading at 3,927 dollars. In recent weeks, ounce gold had reached record levels of 4,381 dollars, and gram gold had hit 5,910 lira.
EXPECTATION OF 4,980 DOLLARS FOR OUNCE GOLD
Delegates attending the London Bullion Market Association's (LBMA) annual meeting in Kyoto predicted that ounce gold could reach 4,980 dollars within the next 12 months. This forecast indicates a 27% increase compared to current levels.
WHY ARE PRICES RISING?
Delegates listed the reasons for the rise in gold as political tensions, uncertainty regarding U.S. tariffs, and the "fear of missing out."
THE LARGEST INCREASE IN 46 YEARS
Gold has gained nearly 50% in value throughout 2025. According to experts, this is set to be recorded as the largest annual increase since 1979. At the beginning of the year, gram gold was at 2,980 lira, and ounce gold was at 2,624 dollars.