The potential movements in gold were listed in the event that the Central Bank lowers interest rates.

The safe haven gold prices continue to experience sharp movements due to news and data flow from global markets. Last week, the spot gold price rose to $2717 due to the Russia-Ukraine tension, gaining 6%; however, it sharply declined yesterday with news that a ceasefire would be established between Israel and Hezbollah. Today, reaction buying is being observed in spot gold, which saw a low of $2605.

3% DROP IN SPOT GOLD

In global markets, the spot gold price is continuing its search for equilibrium around $2625 in transactions on November 26. There is a notable loss of over 3% compared to last week's closing. The dollar index, which is critical for spot pricing, maintains a strong outlook above 107.00. U.S. 10-year Treasury yields have also declined somewhat to around 4.28%.

GRAM GOLD IS SOLD AT 2925, QUARTER GOLD AT 5,038 LIRA

In the domestic market, the gram gold price traded in the free market started the day at 2925 TL. The gram gold has also decreased by about 3% compared to Friday's closing. In the jewelers at the Grand Bazaar, transactions are fluctuating between 3028 TL and 3078 TL for buying and selling. Quarter gold is being sold for 5,038 TL in the morning hours, half gold for 10,077 TL, and full gold for 20,030 TL.

GOLD WATCHING THE U.S. SECRETARY

Analysts are drawing attention to Scott Bessent, who is expected to be the U.S. Treasury Secretary, stating, "Bessent emphasized that he would strive to maintain the dollar's status as a global reserve currency. If we see a stronger dollar in the coming period, even if gold prices rise, it is expected to be more limited, and gold investors should be prepared for this," they evaluate.

INTEREST RATE DECISION WILL AFFECT DOMESTIC GOLD PRICES

On the other hand, M. Ali Yıldırıtürk, an expert in Gold and Money Markets, noted that the interest rate reduction process is being closely monitored domestically, stating, "Spot gold may fluctuate in the range of $2600-$2750 for a while. However, the Central Bank of the Republic of Turkey's interest rate reduction process may cause slight volatility in exchange rates, which could support gram gold. Activity may continue above the 3050 TL support level in physical gram prices," he said.