29.05.2026 13:40
Peace hopes on the US-Iran line turned gold's direction upward. Gram gold is trading at 6,812 lira in the Grand Bazaar. Quarter gold is selling for 11,111 lira, while ounce gold rose to $4,518. As US-Iran ceasefire talks created a positive atmosphere in the markets, experts revised their year-end gram gold forecast from 10,000 lira to 8,500 lira.
Peace hopes on the US-Iran line turned the direction of gold upward. With the rise in gold prices, gram gold is finding buyers at 6,812 lira. Quarter gold is trading at 11,111 lira, and republic gold at 45,426 lira. Ounce gold also continued its rise, reaching the level of 4,518 dollars.
MARKETS EYE ON US-IRAN LINE
In global markets, the ceasefire negotiations between the US and Iran are being closely followed. News that the parties may agree on a new 60-day ceasefire strengthened expectations that the war could end.
The increased likelihood of a compromise also reflected on energy markets. The retreat seen in oil prices contributed to easing global inflation pressures.
DECLINE IN OIL REDUCED INFLATION CONCERNS
The price of Brent crude oil has recently declined, dropping to levels of 91 dollars per barrel. Following the drop in oil prices, US 10-year bond yields also saw a decline.
On the other hand, growth data announced for the US economy fell below expectations. The economic growth in the first quarter falling below the predicted level brought new assessments in the markets.
YEAR-END TARGET FOR GOLD DROPPED FROM 10,000 LIRA TO 8,500 LIRA
Economist Muhammed Bayram stated that developments on the US-Iran line continue to be effective on gold prices. Bayram stated that Iran's softening stance in the Strait of Hormuz was positively received in the markets.
Noting that the expectation of a rise continues in the short term, Bayram expressed that if a ceasefire is achieved quickly, gram gold could reach the level of 7,500 lira.
Bayram said that risks stemming from the Strait of Hormuz could increase global inflation, and this could lead central banks back to interest rate hikes. Stating that this situation could suppress gold prices in the long term, Bayram noted that the previously forecast target of 10,000 lira for the year-end has been revised downward.
Bayram stated that if current conditions continue, gram gold could complete the year at approximately 8,500 lira levels.