21.07.2026 09:40
Geopolitical developments on the US-Iran line and diplomatic steps in the Middle East have pushed gold prices up again. Influenced by fluctuations in the dollar and oil, the ounce of gold surpassed the $4,000 threshold. The gram of gold rose to 6,144 lira.
Global markets are keeping an eye on the latest breaking news from the Middle East, as well as the US Federal Reserve's (Fed) interest rate path. Diplomatic efforts to reduce the risk of conflict between the US and Iran directly impact oil prices and, consequently, global inflation expectations.
CRITICAL THRESHOLD EXCEEDED
Against the backdrop of these delicate balances in the markets, spot gold rose by 0.9% to $4,042.69 per ounce. Gram gold is trading at 6,145 TL, up 1%. Quarter gold has risen to 10,101 TL.
Prices in the Grand Bazaar are as follows:
STAGNANT OIL NEGOTIATIONS AND THE CEASEFIRE PROPOSAL ON THE TABLE
Oil prices saw a slight easing as of Tuesday. While markets monitor mediation contacts between Washington and Tehran, they are also assessing new mutual attacks on the ground and threats of a naval blockade by Houthi forces in Yemen against Saudi Arabia.
Despite the Houthi naval blockade statement, it is noted that the Tehran and Washington administrations want to keep the diplomatic channel open to salvage the interim agreement signed last month, which remains fragile. According to information relayed by a senior Iranian official, the Tehran administration has received a 10-day ceasefire proposal from mediators to pave the way for a permanent agreement to end the war.