05.09.2026 16:00
Finance Analyst Islam Memis, who evaluated gold prices that experienced a sharp decline following the strong non-farm payroll data from the US, conveyed the latest situation in the markets. Stating that he expects a movement in the band of $4,300-$4,500 for spot gold and 6,800-7,200 TL for gram gold in the short term, Memis shared his year-end target of $5,000 for spot gold.
Following the US non-farm payroll data exceeding expectations, gold prices experienced a sharp decline. Financial analyst Islam Memis evaluated the latest developments in the markets and shared his short and long-term expectations for gold investors.
Global markets are going through volatile days after the strong employment data from the US. While the market expectation was at 55 thousand, the data coming in at 162 thousand led to a rapid retreat of about 2% in spot gold. During the period when the unemployment rate remained steady at 4.1%, the gold market closed the week on a fluctuating note.
PART OF THE DECLINE WAS RECOVERED
Spot gold, which fell to the level of 4,370 dollars during the week, showed signs of recovery following statements by US President Donald Trump directed at the Fed. Completing the week at the 4,430 dollar level, spot gold managed to recover a portion of its value loss.
EYES ON US INFLATION AND THE FED'S INTEREST RATE DECISION
Stating that the upcoming period holds critical processes for the gold market, financial analyst Islam Memis said the main factors determining the direction would be US inflation data and the interest rate decision to be taken by the Fed. Emphasizing that September will witness a dense flow of data, Memis stated that gold has moved into a waiting phase within its current band range.
"THE 5 THOUSAND DOLLAR LEVEL COULD BE SEEN IN SPOT GOLD"
Addressing short and long-term price ranges, Memis listed his market predictions as follows:
- Spot Gold Short-Term Expectation: 4,300 - 4,500 dollar range
- Gram Gold Short-Term Expectation: 6,800 - 7,200 TL range
- Year-End Target: Possibility of seeing the 5 thousand dollar level in spot gold
"CITIZENS ARE SELLING GOLD TO BUY HOUSES AND CARS"
Stating that investors who saw the recent rise of gram gold to levels of 7,229 TL as an opportunity have shifted to selling, Memis reported that a significant need for cash and a transition to TL has been observed in the market over the last month. It was stated that investors are predominantly selling their gold for the purchase of houses and cars. Arguing that a period of suppression lasting about 7 months is now behind, Memis noted that given the performance from 3,950 dollars to 4,430 dollars in spot gold, and from 5,950 lira to above 6,800 lira in gram gold, the upward desire in gold remains preserved.
* THIS IS NOT AN INVESTMENT ADVICE