What changed
2026-08-07 09:35 UTC → 2026-08-07 12:36 UTC ·
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Turkey gold price surge continues
Turkey’s gold market continued to mirror global gold rallies in August 2026. On 7 August 2026 spot gold in Turkey rose to roughly $4,260‑$4,300 about $4,254 per ounce, delivering a weekly gain of over more than 5 % – the strongest performance since January. January 2026. The surge rally was again linked tied to a fall in falling oil prices, easing which eased inflation expectations expectations, and to renewed optimism for about Middle‑East peace, with peace after U.S. President Donald Trump signalling signalled a possible end to the Iran Iran‑U.S. conflict. Analysts at StoneX noted the metal breaking StoneX’s Matt Simpson highlighted the long‑standing $4,000 level as solid support level. and projected the price could climb to $4,600 or higher if the trend persists, while UBS’s Mark Haefele forecast a possible rise to $5,000 in the first half of 2027. Market pricing via participants are also watching the CME U.S. July non‑farm payroll report for clues on the Federal Reserve’s rate‑path, with the FedWatch tool indicated about still indicating roughly a 55 % probability chance of a Fed rate hike in September, reinforcing the view that lower energy costs and a softer monetary stance support gold’s upward momentum. September hike. These factors echo earlier drivers that lifted gram gold above 6,534 TL and the ounce to $4,261 in August 2024, underscoring the ongoing continued sensitivity of Turkey’s gold market to global commodity trends, currency moves monetary‑policy expectations and geopolitical developments.