18.08.2026 07:20
The expiration of the 60-day ceasefire declared in the war between Iran and the US, and the lack of a new extension signal from Donald Trump, have increased activity in the markets. Brent oil rose to a 3-week high of $91.37, while gold, which tested $4,436 per ounce, reversed its direction and fell to $4,392. Gram gold is trading at 6,744 lira.
Market movements driven by geopolitical developments continue. The expiration of the 60-day ceasefire declared in the Iran-US conflict and US President Donald Trump's failure to signal a new extension have shifted the balance in global markets.
This atmosphere of uncertainty caused oil prices to rise rapidly. The price of Brent crude for October delivery, which rose to $88.95 on Friday and closed the day at $88.52, began trading at $91 in international futures markets.
BRENT OIL AT 3-WEEK HIGH
Brent crude, which had been on an upward trend throughout August, moved above the critical threshold of $90 in yesterday's trading as the ceasefire officially ended. Maintaining its momentum in today's trading, oil was priced at $91.37 as of 06:00 Turkish time. Having last traded above these levels on July 24, Brent crude has thus reached its highest point in three weeks.
LATEST SITUATION IN GOLD PRICES
The rapid rise in oil prices directly impacted the gold market. Spot gold, trying to shake off Fed-related stress, stalled due to increasing geopolitical tensions in the Middle East and the trigger from oil.
In the first trading today, spot gold rose to $4,436, attempting to break the downtrend that has persisted since January, but reversed its direction downward as oil surpassed $90. According to current data, gold is trading at $4,392 per ounce, while gram gold is finding buyers at 6,747 lira in the markets.