05.09.2025 21:53
Global uncertainties and the gold policies of central banks have led to historic price levels for gold. Ahmet Cumhur Kitiş, Chairman of the Board of DEMAŞ A.Ş., stated that it is only a matter of time before the price of gold reaches 5,000 TL per gram.
Global uncertainties, central bank purchases, and currency pressure have driven gold to historic levels. Ahmet Cumhur Kitiş, Chairman of the Board of DEMAŞ A.Ş., stated, "Gold, as it has been throughout history, is the currency of crises today. The ounce is rising, currency pressure is increasing; reaching 5,000 TL per gram is now just a matter of time."
This week, gold surpassed the level of 3,550 dollars per ounce, opening the door to a new era. Ahmet Cumhur Kitiş, Chairman of the Board of DEMAŞ A.Ş., made striking statements regarding the rise in gold.
"GOLD POLICIES HAVE LIFTED THE OUNCE TO NEW PEAKS"
Emphasizing that this rise is not surprising, Kitiş said, "Global uncertainties and central banks' gold policies have lifted the ounce to new peaks. The point we have reached today shows that our predictions have come true."
Kitiş stated that there are three fundamental factors behind the rise in gold. He noted that discussions about political pressure on the U.S. Federal Reserve are increasing demand for safe havens, while conflicts in the Middle East and trade competition in Asia are also providing strong support for gold. He added that the reserve increases in many countries, especially China and Turkey, have positioned gold as a strategic asset.
EXPLAINED THE REASON FOR THE RISE
In Turkey specifically, gold prices are not solely dependent on the movement of the ounce. The rise in the exchange rate is causing gram gold to break records much faster than global pricing.
Kitiş stated, "In Turkey, the value of gold is not only based on the ounce but also multiplies through the exchange rate. Therefore, record levels in TL are coming much faster than global levels." The fact that the dollar/TL remains above the 41 level directly pushes gram gold upwards, while investors' search for security against inflation also strengthens this trend.
WHAT ARE THE EXPECTATIONS OF GLOBAL BANKS?
International financial institutions are also making strong predictions for gold. Goldman Sachs predicts that the ounce price will reach 3,700 dollars by the end of the year and could rise to the range of 4,500 - 5,000 dollars under special conditions. JPMorgan experts estimate that the ounce will reach 3,675 dollars by the end of the year and that due to political pressures on the Fed, the level of 4,000 dollars could be exceeded in the second quarter of 2026. Institutions like UBS and BNP Paribas also indicate that gold is heading towards the 3,700 dollar range, and in risky scenarios, 4,000 dollars could be tested. In contrast, Citi shares the view that due to the weakness in global economic recovery and investment demand, gold could fall below 3,000 dollars again in the last quarter.
"THE TARGET OF 5,000 LIRA FOR GRAM GOLD IS NOT FAR AWAY"
Scenarios regarding the short term for gram gold are also noteworthy. Currently, with the ounce at 3,550 dollars and the dollar/TL at 41.1, gram gold is being pushed to approximately 4,700 TL. In a rising scenario, if the ounce reaches 3,600 dollars and the exchange rate rises to 42, the gram will reach 4,900 TL, while in a favorable exchange rate scenario, if the ounce reaches 3,700 dollars and the exchange rate reaches 43, the gram price will rise to 5,100 TL. Kitiş stated, "Technical indicators mark the 4,800 - 5,000 TL range as a strong target for gram gold. Just as our previous predictions for the ounce have come true, the target of 5,000 TL for gram gold is no longer far away."
"NOW IT'S JUST A MATTER OF TIMING"
Kitiş noted that gold has strengthened its role as a safe haven on a global scale, and in Turkey, the dual effects of the exchange rate and inflation have led gram gold to reach records much faster. He summarized the process as follows: "In our previous writings, we guided investors, and today we see that these predictions are coming true. Gold, as it has been throughout history, is the currency of crises today. The ounce is rising, currency pressure is increasing; reaching 5,000 TL per gram is now just a matter of time." - ISTANBUL