11.05.2026 09:57
Tensions on the US-Iran line and rising oil prices negatively affected the gold market. Under the pressure of a strengthening dollar, gold fell by 1 percent, while gram gold dropped to 6,823 TL levels.
The lack of concrete results from the peace negotiations between the US and Iran, along with rising oil prices, affected the markets. Under the pressure of a strengthening dollar, gold prices experienced a notable decline.
RISING OIL PRICES HIT GOLD
Gold prices fell after the failure to make progress in ongoing peace talks between the US and Iran. The lack of results from the negotiations led to rising oil prices, which pushed up inflation and interest rate expectations in global markets.
As investor expectations regarding interest rate policies changed due to increasing energy costs, demand for gold, seen as a safe haven, came under pressure.
STRENGTHENING DOLLAR WEIGHS ON GOLD PRICES
The rise in the US dollar also accelerated the pullback in gold prices. The appreciation of the dollar made gold more expensive for investors using other currencies, leading to weaker demand.
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SPOT GOLD DECLINES BY 1 PERCENT
In the markets, the spot gold price fell by 1 percent to a level of 4,668 dollars per ounce. In recent trading, spot gold was trading around 4,673 dollars per ounce.
GRAM GOLD ALSO EXPERIENCED A DECLINE
The pullback in spot gold was also reflected in the domestic gram gold market. Gram gold lost about 1 percent of its value, falling to levels around 6,811 TL. Gram gold is currently trading around 6,823 TL.
TRUMP REJECTS IRAN'S OFFER
It was reported that US President Donald Trump rejected Iran's response to the US peace negotiation offer. This development weakened expectations that the conflicts, which have been ongoing for about 10 weeks, would end soon.
It is stated that the conflicts, which have caused widespread destruction in Iran and Lebanon, have also negatively impacted maritime traffic in the Strait of Hormuz and led to a rise in global energy prices.