Gram Gold Approached 6,800 Lira, While Ounce Gold Surpassed the $4,400 Threshold

Gold entered the new week with signs of recovery after a sharp late drop that prevented it from breaking a two-month high. Gram gold approached 6,800 lira, while ounce gold surpassed the $4,400 threshold. The precious metal has gained roughly 15% over the past three weeks.

Gold and Money Markets Expert Şirin Sarı said the market has seen significant price swings, including peaks of 8,300 lira per gram and $5,600 per ounce. "From the lows we've seen an upward momentum of close to 15%. These are actually good levels to buy gold, since there's no workmanship cost or price bubble, she said.

Sarı cautioned that the declines do not reflect long-term expectations. "Gold is searching for a bottom. We maintain our expectation of a rise in the medium and long term, but it could fall in the short term, she said.

On whether gram gold could reach 7,000 in September, Sarı noted that rate-cut expectations had climbed to 50-60% but have since fallen to around 30%. "The Fed is not expected to raise rates in the coming months. If expectations return to the Fed cutting rates at year-end, we could see levels above 7,000 lira, she said.

Sari added that gold will continue to reward investors in the medium and long term. "If we're talking about 2027 or 2028 rather than two or three months from now — if you're a long-term investor — it doesn't really matter whether you bought today, three months ago, or three months from now. For medium- and long-term investors, we may not see these prices again. Uncertainty persists for the short term, she said.