10.06.2026 16:10
A citizen who invested all their savings in gold by saying, "I will sell my house and buy gold, in 2 years I will have 4 houses," and moved to a rental, suffered great disappointment as the markets took an unexpected turn. The drop in gold prices following the US-Iran tensions and the soaring rental costs cost the citizen nearly 1 million lira in just 3 months.
Ongoing fluctuations in global markets continue to put investors in a difficult position. Particularly, the failure of the conflict environment between the USA and Iran to turn into peace has pushed dollar and oil prices up while triggering an unexpected downward trend in gold prices. Concerns that the war could continue with new waves of attacks further increase the panic among gold investors. One of the most striking losses under these market conditions was experienced by a citizen who sold his house last March and bought gold with all his money.
HE MOVED TO RENT SAYING 'I BELIEVE I WILL BUY 4 HOUSES'
In the incident that went viral on social media last March, the citizen announced that he sold his house and bought 1 kilogram of gold. The investor, who moved into a rental house with his family, expressed his goals at that time with these words:
"I am married and have 2 children. We moved to a rental. This was all our savings. I will see those who mock me on social media. I believe I will buy 4 houses in 1-2 years thanks to gold."
LOSS IN VALUE OF GOLD REACHED 4 PERCENT
However, markets moved contrary to the citizen's expectations. While gram gold was trading at 6,423 lira levels on March 27, 2026, as of today it has dropped to 6,150 lira levels. This 4 percent decline on a gram basis caused an erosion of approximately 260,000 lira in the principal of the citizen who bought 1 kilogram of gold.
RENT AND MOVING EXPENSES WEIGHED ON THE BALANCE SHEET
The citizen's loss was not limited to the loss in gold value. The current housing costs faced by the 4-person family, who had to move to a rental after selling their house, multiplied the extent of the loss. In an environment where average house rents have reached around 45,000 lira, the family's mandatory expenses such as 3 months of rent, deposit, realtor fees, and moving costs amounted to a large sum.
When the eroded principal, high housing costs, and the increase in value of the sold house on paper over 3 months (opportunity cost) are added together, the citizen's total loss is calculated to have reached around 1 million lira.