12.06.2025 09:01
Gold rose due to increased demand for safe havens amid tensions in the Middle East and trade uncertainties. The price of gold per ounce reached as high as $3,377, testing its historical peak. Meanwhile, the price of gold per gram is hovering around 4,285 Turkish lira.
The rising tension between Iran and the USA has benefited gold. Expectations that tensions in the Middle East could escalate again have caused panic in the markets. Investors turning to gold, seen as a safe haven, have led to a rapid increase in prices.
TENSION PROBABILITY SOARS GOLD PRICES
Following the relevant statement, expectations of a new crisis in the Middle East have caused gold prices to rise rapidly. The price of gold per ounce tested its historical peak by rising to 3377 dollars amid geopolitical crisis expectations. Following developments in the gold market, the price of gold per gram in Turkey also started the day with an increase. The gram gold is trading at 4,285 lira, with a rise of 0.6%.
GOLD TESTS RESISTANCE LEVEL
Analysts predict that if the gold per ounce, which is testing the resistance level of 3372 dollars, holds above this level, the upward movement will continue towards the range of 3391-3413 dollars. If the resistance cannot be surpassed, it is estimated that support prices will be 3353 and 3331 dollars during a correction.
In Turkey, gold prices have risen to the following levels:
- Gram gold: 4,285 TL
- Quarter gold: 7,013 TL
- Half gold: 14,025 TL
- Full gold: 27,564 TL
- Republic gold: 27,919 TL