21.01.2026 11:52
As tensions between the US and the EU rise and geopolitical risks increase, the demand for safe havens has surged, with gold reaching a new record at $4,845 per ounce, 6,735 TL per gram, and 11,200 TL for a quarter gold.
Increasing geopolitical risks in global markets have led to sharp fluctuations across all asset classes. As volatility rises across a wide range from stocks to currencies, cryptocurrencies to commodities, investors have turned to safe havens.
EU-US TENSION SHAKES MARKETS
The US's insistence on purchasing Greenland and imposing tariffs on 8 European countries, including Germany and the United Kingdom, has caused strong reactions on the European front. The 27-member European Union held an emergency meeting and discussed economic measures in retaliation against the US. French President Emmanuel Macron, speaking at the Davos Summit, emphasized that they would protect the EU's interests against US tariff threats and would not compromise on the rule of law.
ALL EYES ON TRUMP, RISK APPETITE FALLS
Markets are focused on US President Donald Trump, who is expected to speak at Davos. This environment of uncertainty has decreased risk appetite while increasing demand for safe havens among investors.
HISTORIC PEAK FOR GOLD
Due to rising global tensions, gold prices have reached a new record. In the first transactions of the day, gold rose to $4,845 per ounce, marking the highest level ever. As of January 21, 2026, gold per gram reached a new peak of 6,735 TL. In the first three weeks of the year, the increase in gold prices approached 12%.
QUARTER GOLD AT 11,200 TL
In the Grand Bazaar, physical gold per gram was sold at 6,860 TL in the morning, while quarter gold was sold at 11,190 TL. Once a staple of weddings, quarter gold has drawn attention as it approached the level of 11,200 TL.