10.06.2026 08:10
Rising tensions between the US and Iran shook markets, while a strengthening dollar hit gold prices hard. The decline in gold, which lost 2% and fell to its lowest level in 11 weeks, was also felt in the Grand Bazaar. Spot gold slipped below the critical support level of $4,300 to $4,175; the gram dropped to 6,260 lira, and the quarter ounce fell to 10,000 lira.
A hot conflict environment that erupted in the Strait of Hormuz between the United States and Iran and escalated with mutual attacks created an earthquake effect on the global economy. With rapidly rising oil and dollar prices, increasing inflation and interest rate concerns turned the gold, seen as a safe haven, upside down.
GLOBAL CRISIS HITS GOLD: BOTTOM OF 11 WEEKS
A sharp selling wave in gold prices occurred with the opening of markets on Wednesday. Losing nearly 2% of its value, gold tested the lowest level seen since March 23 and hit the bottom of the last 11 weeks. The spot gold ounce price fell sharply by 1.9% to $4,178.
SHARP DROP IN GRAND BAZAAR: HOW MUCH ARE GRAM AND QUARTER GOLD NOW?
This harsh wind in global markets was directly felt in the domestic gold market. According to current data from the Grand Bazaar, significant value losses were recorded in all gold types:
- Gram Gold: In line with the global trend, gram gold experienced a decline of 1.92% and is trading at 6,260.98 TL. (Buy: 6,232.47 TL - Sell: 6,289.48 TL)
- Quarter Gold: With a daily value loss of 1.93%, it fell to 10,041.65 TL. (Buy: 9,917.68 TL - Sell: 10,165.62 TL)
- Republic Gold: Losing 1.92% of its value, it declined to a last transaction level of 41,605.46 TL. (Buy: 41,134.30 TL - Sell: 42,076.62 TL)
STRONG DOLLAR AND INTEREST RATE PRESSURE
Behind this sharp drop in gold lie not only geopolitical risks but also economic balances. The global appreciation of the dollar made gold, priced in dollars, much more expensive for investors using other currencies.
Moreover, the rise in oil prices by about 1% due to war concerns fueled fears that global inflation pressures could strengthen again. As markets began to price that central banks might keep interest rates at high levels for a longer period, exits from gold, which yields no interest, accelerated.
US-IRAN TENSION SHAKES MARKETS
At the center of the storm in markets is the hot contact on the Washington-Tehran line. After US President Donald Trump announced that Iran shot down a US Apache helicopter in the Strait of Hormuz, US forces conducted retaliatory strikes against Iran on Tuesday. Iran's response by targeting military bases completely eliminated the fragile ceasefire environment in the region.