16.10.2026 10:33
As US inflation data exceeded expectations and escalating geopolitical tensions in the Middle East increased safe-haven demand, the wind reversed for gold; while gold per ounce surpassed $4,175, gold per gram climbed to 6,652 TL.
After the inflation data announced in the US, gold prices, which experienced a short-term pullback, resumed a sharp rise with increasing global risks and a decline in US Treasury bond yields. As safe-haven demand strengthened, gold per ounce exceeded $4,175 in international markets, while domestically gram gold reached 6,652 TL.
GLOBAL RISKS AND BOND DECLINE TRIGGERED A REBOUND
The decline in US Treasury bond yields and the weakening dollar reduced pressure on gold, which pays no interest. Precious metals, which paused after data released on Wednesday, climbed to record levels as of Friday amid investors' search for a safe haven.
US INFLATION EXCEEDED EXPECTATIONS
In the US, the Producer Price Index (PPI) increased 1.3% month-on-month and 6.3% year-on-year in September, recording its strongest monthly rise since March 2022. The Consumer Price Index (CPI), meanwhile, came in above expectations in September with a 0.6% monthly and 3.7% annual increase. While markets see the probability of the US Federal Reserve (Fed) raising interest rates in October as low despite persistently high inflation, they continue to price in December possibilities.
ESCALATING TENSION IN THE MIDDLE EAST FUELS DEMAND
Geopolitical developments were also decisive in the market surge. Escalating clashes between Saudi Arabia and Houthi forces in Yemen, and rising risks across the Middle East, were among the main factors supporting investors turning to gold as a safe haven.