Turkey gold market dynamics

In early July 2026 Turkey’s central bank sold a further 3 tonnes of gold, bringing its total sales to 81 tonnes for the year. The sale coincided with a sharp rise in domestic gold prices, reflecting heightened demand amid global economic uncertainty and a broader trend of central banks adding to their gold reserves.

By the end of July, gold and silver prices in Turkey continued to climb. Spot gold rose to 6,167 TL per gram and the U.S. ounce price hit $4,095, while silver also posted gains. The price momentum was attributed to easing U.S.–Iran tensions, lower oil prices reducing inflation concerns, and broader market cues such as the dollar’s weakness and expectations around U.S. Federal Reserve policy. The later snapshot shows the market’s response shifting from the immediate impact of Turkey’s gold sales to wider geopolitical and macro‑economic influences.