12.02.2026 21:51
The rise of the dollar following strong employment data from the U.S. accelerated profit-taking in gold and silver. With a decline exceeding 3%, the price of gram gold fell below the 7,000 TL barrier, while the nearly 10% loss in silver indicated a renewed increase in volatility in precious metals.
The strong employment data for January released in the US supported the dollar while weakening expectations for interest rate cuts. This development led to profit-taking in gold and silver, which had been on a rising streak in recent weeks.
GOLD DROPPED BELOW 7 THOUSAND TL BARRIER
After closing with an increase of over 1% the previous day, the direction of gold reversed. With the mentioned data, the price of gold per ounce fell by 3.24% to 4,919 dollars. The decline in global markets was also reflected domestically. The gram of gold, which dropped below the 7 thousand TL barrier, started trading at 6,919 TL as of 10:00 PM.
THE DECLINE IN SILVER IS EVEN GREATER
The decline in silver was sharper compared to gold. Following a 4% increase the day before, spot silver fell by 9.64% to 76.30 dollars. In Turkey, the gram of silver has dropped to 105 TL.
EMPLOYMENT DATA CHANGED EXPECTATIONS
In the US, employment growth unexpectedly accelerated in January, and the unemployment rate fell to 4.3%. However, it is noted that the data, recorded as the strongest employment growth in the last 13 months, may have painted an exaggerated picture of the health of the labor market. According to revisions, it was revealed that the economy created 181 thousand new jobs in 2025 instead of the previously estimated 584 thousand.
BUDGET DEFICIT AND FED UNCERTAINTY
The US Congressional Budget Office predicted that the budget deficit would exceed 1.85 trillion dollars in 2026. Economists emphasize that the uncertainty regarding the monetary policies of the Federal Reserve (Fed), newly appointed by US President Donald Trump, could increase volatility in gold prices.