11.06.2026 02:20
Under the pressure of the US central bank's interest rate hikes, the gold market, which was already trading at its lowest levels in the last 2.5 months, experienced a sharp fluctuation following the US attack on Iran tonight. Initially shocked, the gram gold fell below the 6,000 TL threshold to 5,994 TL, but later recovered to rise back to the 6,030 TL level.
The sharp decline in gold prices accelerated as expectations of interest rate hikes by the US Federal Reserve (Fed) regained strength in global markets.
Falling to its lowest levels in the last 2.5 months during the day yesterday, gram gold approached its 200-day moving average, trading at 6,200 lira, while ounce gold traded at the $4,186 limit.
US LAUNCHES ATTACK ON IRAN, GOLD FALLS BELOW THE 6,000 TL THRESHOLD The major blow to the yellow metal came with the news of a hot war from the Washington-Tehran line at midnight. The US military's attack on Iran under the order of US President Donald Trump created a sudden shockwave in the markets.
Gold, which under normal circumstances is expected to rise during crises but initially moves in the opposite direction due to liquidity needs and global panic, fell below the 6,000 TL threshold at around 01:20, testing the 5,994 TL level. Ounce gold also retreated to $4,038 in the same minutes.
BEGINS TO RECOVER After the initial panic selling, as markets stabilized the situation, gold prices gained a slight upward momentum. Recovering, gram gold turned upward at around 02:00 and anchored at the 6,030 TL levels. Ounce gold also recouped some of its losses, rising to the $4,050 level.
Gram gold price chart