22.05.2026 19:12
Economists stated that uncertainties in the markets continue to support gold prices. According to experts; while the range of 6,500 - 7,000 Turkish lira per gram is maintained, there is a possibility of gold per ounce rising to $5,880 level within the year.
Following the legal and political developments in domestic politics, there has been severe volatility in the markets, and economists have made notable assessments regarding reserve management, inflation expectations, and investment instruments. According to experts, while the recent developments increase pressure on macroeconomic balances, they have particularly opened the door to a new era in the stock market, foreign exchange, and gold markets.
SEVERE LOSSES IN THE STOCK MARKET
Following the developments on the political agenda, sharp sell-offs were observed in Borsa Istanbul. The BIST 100 index ended the day with a 6% decline at 13,163 points. Economists note that levels below 13,000 points in the medium and long term should no longer be surprising. According to experts, 2025 has been a period when domestic investors have moved away from the stock market. It is stated that foreign investors currently constitute the majority of the investor base in the stock market, and it is assessed that new support measures to protect investors may come to the agenda in the short term.
NEW RISKS FOR RESERVES AND INFLATION
Economists pointed out that approximately $74 billion in reserve and cash needs are present in March, and with the recent developments, this need may increase further. It is noted that the erosion in reserves may continue, and upward revisions in inflation expectations could come to the fore.
“CONTROLLED PRESSURE” COMMENT ON THE DOLLAR
Despite the severe fluctuations in the markets, the dollar exchange rate remaining flat around 45 TL drew attention. Experts interpreted the limited movement in the foreign exchange rate despite the sharp decline in the stock market as a process of controlled suppression carried out using reserves. It was reported that expectations for the year-end band of 50-52 TL continue to be maintained.
NEW FORECASTS FOR GOLD AND SILVER
Economists stated that investors continue to seek safe havens due to global uncertainties. While a volatile course in the short term is expected for gold per ounce in the range of $4,400 to $4,800, it was expressed that the general target range for the year could extend up to $5,880. For gram gold, the band of 6,500 to 7,000 TL is highlighted, and experts emphasized that gold maintains its importance as a long-term investment instrument due to economic uncertainties. For silver, the $74 level is considered a strong support point, while the long-term target could rise to the $96 level.
“STAY AWAY FROM SHORT-TERM TRADES”
Experts warned investors against short-term buy-sell transactions, noting an increase in manipulation and sharp price movements in global markets. Economists stated that during periods of uncertainty, the focus should be on a long-term accumulation strategy rather than price.
EMPHASIS ON EARLY ELECTION AND “ELECTION ECONOMY”
Arguing that the political developments have strengthened the possibility of an early election, economists have made assessments suggesting that an “election economy model” could be implemented in Turkey in 2027.
* THIS IS NOT INVESTMENT ADVICE