# Turkish lira decline July‑August 2026 > Live situation record from CLSTR: https://clstr.news/situations/turkish-lira-decline-in-july-2026 > Updated: 2026-08-05T03:34:33.000Z. Sources: 51. Developments: 3. The Turkish lira kept sliding through July and early August 2026, breaking historic thresholds as the dollar rose above 47.5 TRY and the euro and pound also fell to record lows. By early August the lira hit a new record of 47.58 TRY per dollar. The currency weakness coincided with a sharp rally in precious metals. Spot gold rose for a third consecutive session on 5 August, gaining about 1.3 % to roughly $4,127 per ounce. In Turkey the gram‑gold price climbed to a range of 6,315‑6,328 TL, with similar lifts in quarter‑gold and other bullion items. The rally was underpinned by a weaker U.S. dollar, falling oil prices and easing geopolitical tension after a Qatar‑mediated temporary agreement on the Strait of Hormuz. Market pricing of a Federal Reserve September rate‑hike slipped to 59 % from 67 %, reducing inflation concerns. Central banks added a record 289 metric tons of gold to reserves in Q2. RBC Capital Markets kept a bullish outlook that gold could approach $5,300 in a high‑scenario, while JPMorgan forecast a year‑end range of $4,300‑$4,500 if current support holds. Silver also rose, gaining about 1.9 % to $60.64 per ounce. ## Claims - Spot gold price rose about 1.3% to roughly $4,127 per ounce on 5 August 2026. (disputed by 9 sources) - Spot gold rose about 3 % to approximately $4,230 per ounce on 5 August 2026, marking a third consecutive day of gains. (disputed by 4 sources) - Oil prices fell, contributing to the gold rally on 5 August 2026. (corroborated by 14 sources) - The probability of a Federal Reserve rate hike in September fell to 59 % from 67 % on 5 August 2026. (corroborated by 14 sources) - A Qatar‑mediated temporary agreement on the Strait of Hormuz helped lower oil prices and supported the gold rally on 5 August 2026. (corroborated by 14 sources) - Silver rose to $60.64 per ounce, up about 1.9 % on 5 August 2026. (corroborated by 11 sources) - Central banks added a record 289 metric tons of gold to their reserves in the second quarter of 2026. (corroborated by 11 sources) - Gram gold price in Turkey increased about 1.5% to around 6,324 Turkish lira on 5 August 2026. (corroborated by 9 sources) - RBC Capital Markets forecast that spot gold could reach $5,300 per ounce in a bullish scenario. (corroborated by 9 sources) - Gram gold in Turkey traded between 6,315 TL and 6,328 TL on 5 August 2026. (corroborated by 9 sources) ## Timeline ### 2026-08-05: Gold prices rise on Aug 5 2026 as Fed outlook softens and Middle‑East talks ease Gold rose 1.3 % to $4,127 on 5 Aug 2026 as a weaker dollar, lower oil and Qatar‑mediated Hormuz talks lifted demand; Turkey’s gram gold hit 6,315‑6,328 TL. 46 sources. https://clstr.news/cluster/turkish-lira-and-sterling-rise-as-fed-outlook-and-iran-talks-influence-markets ### 2026-07-20: Turkish lira falls to record low against dollar amid Middle East tension and Fed decision The Turkish lira hit a record low of 47.22 per dollar on July 21‑22, 2026, driven by Middle‑East tensions and an imminent Fed rate decision, with the euro near 53.90 TRY. 2 sources. https://clstr.news/cluster/turkish-lira-falls-to-record-low-against-dollar-amid-middle-east-tension-and-fed-decision ### 2026-07-07: Turkish Lira Exchange Rates Edge Toward Record Highs The lira weakened to ~46.85 TL per dollar, ~53.6 TL per euro and ~62.7 TL per pound, nearing record highs amid Fed minutes, oil price spikes and the NATO summit. 6 sources. https://clstr.news/cluster/turkish-lira-hits-new-high-near-47-per-dollar-amid-market-rally --- Cite as: Turkish lira decline July‑August 2026. CLSTR, https://clstr.news/situations/turkish-lira-decline-in-july-2026