05.01.2026 10:00
With the increase in geopolitical risks and ongoing expectations for interest rate cuts from the Fed, gold started the new week with a rise. The price of gold reached up to $4,421 per ounce, while the price of gold per gram rose to 6,100 TL. Strong increases were also observed in silver, platinum, and palladium.
Last week, gold bullion, which finished with a loss of 4.44% at $4,332, started the new week with an increase. In the initial trades, gold bullion rose to $4,421 and, as of 06:10 UTC, is trying to stabilize around $4,410. The nearly 1.8% premium compared to Friday's close is noteworthy. A record level of $4,550 was seen in gold bullion in the last week of last year.
GRAM GOLD STARTED THE DAY AT 6,100 TL
As of January 5, 2026, gram gold started trading at the level of 6,100 TL. Gram gold had finished last week at 5,993 TL. The record for gram gold in the spot market is 6,281 TL. In the Grand Bazaar, the physical gram gold selling price in jewelry shops in the morning hours is 6,450 TL, while the selling price of a quarter gold is at the level of 10,540 TL.
VENEZUELA CRISIS MOVED THE MARKETS
Following the operation targeting Venezuelan President Nicolas Maduro by the U.S., geopolitical tensions have increased, and the demand for safe havens in the markets has also gained strength. After the developments, Venezuelan Vice President Delcy Rodriguez announced that she has assumed the role of interim leader, while asserting that Maduro is still the president.
GEOPOLITICAL RISK AND INTEREST RATE EXPECTATIONS SUPPORT GOLD
In addition to the rise in geopolitical risks, expectations for interest rate cuts, strong purchases by central banks, and ETF inflows support the upward trend in gold. Gold finished last year with a 64% increase, marking its strongest annual performance since 1979. Gold bullion reached an all-time high of $4,549.71 on December 26, 2025.
FED MESSAGES ARE BEING CLOSELY MONITORED
While markets continue to expect the U.S. Federal Reserve to make at least two interest rate cuts this year, messages from Fed officials are being closely watched. Philadelphia Fed President Anna Paulson stated that new cuts could be "some time away" following the recent period of significant easing. The non-farm payroll data to be released this week is seen as critical for the Fed's interest rate path.
INCREASE IN SILVER, PLATINUM, AND PALLADIUM
The rise in precious metals was not limited to gold. Spot silver rose by 4.4% to $75.82, having set a record of $83.62 on December 29. Silver, which finished last year with a 147% increase, showed its best performance in history. Spot platinum rose by 2.2% to $2,190.55, while palladium increased by 1.8% to $1,667.45.