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BIST10012,151
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GOLD4,194.30
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October 12, 202619°
BIST10012,151
-0.94%
USD49.22
0.00%
EUR55.21
+0.28%
GOLD4,194.30
-0.52%
INTEREST37.00%
-1.00
BITCOIN82,977
-0.83%
October 12, 202619°

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Gold slides as gram price in Türkiye falls below 6,600 lira

Gold started the week lower, with ounce prices hitting an eight-week low of $4,194 and the gram price in Türkiye falling below 6,600 lira.

The Turkiye Times Editorial DeskSeptember 28, 2026, 10:43 AMUpdated: September 28, 2026, 11:35 AM

Gold slides as gram price in Türkiye falls below 6,600 lira

Gold opened the week sharply lower. The gram price in Türkiye fell from 6,603 lira to as low as 6,578 lira, while the ounce dropped to $4,194, its lowest in eight weeks. Rising oil prices and strong US economic data fueled expectations that the Federal Reserve will keep interest rates higher for longer.

According to Anadolu Agency, gold fell 2.6% to $4,170 per ounce at 06:40 GMT. Oil prices rose after reports that US President Trump rejected an offer to reopen the Strait of Hormuz and end the conflict, fueling inflation concerns and tightening Fed rate expectations, while selling pressure dominated the first gold trades of the week.