Gold Prices Continue to Break Records: Gram Gold Surpasses 3,000 TL

The increased geopolitical risk originating from the Middle East and the ongoing uncertainty as the U.S. presidential elections approach are boosting investors' demand for gold in global markets. Seen as a safe haven during periods of uncertainty and concern, gold continues to reach new record levels in both global and domestic markets. Gold maintains its trend despite the strong dollar. Spot gold began the new week with a rise, reaching a record level of $2,736.9. Notably, the rise in the gold market is occurring alongside the strengthening dollar, even as U.S. bond yields increase. The uncertainty surrounding the approaching U.S. presidential elections continues to keep gold demand active.

As structural concerns in the global economy and worries originating from the Middle East persist, investors continue to use gold as a safe haven. In this upward trend, Bitcoin has accompanied gold, with the largest cryptocurrency reaching up to $69,500 last week after nearly a 10% increase. Spot gold continues to refresh its records, with a 2.5% increase in value over the last seven days. Grams of gold have exceeded 3,000 TL.

The price of gram gold started the week at 3,001 TL, influenced by increased global demand. In intraday trading, gram gold set a new record at 3,012 TL. In the current environment of uncertainty, the upward trend in gram gold, supported by spot gold and the strong dollar, continues. Silver is at its highest level since 2012.

Demand for commodities remains strong, positively affecting silver. Continuing the 8% increase experienced last month with a nearly 10% rise this month, silver reached the $34 threshold this week, marking its highest level in the past 12 years.