Fed price hike in gold and silver! Will gold break a record after the Fed decision?

Gold and silver prices have reached new record highs due to expectations that the US Federal Reserve (Fed) will begin interest rate cuts and rising geopolitical tensions. Speaking to A Haber microphones, financial analyst İslam Memiş assessed the current market conditions and future expectations.

Stating that last week was busy with critical developments such as US inflation data and interest rate decisions from the Central Bank of the Republic of Turkey and the European Central Bank, İslam Memiş said that geopolitical tensions in the Middle East also affected the rise in precious metals.

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HISTORICAL RECORDS IN GRAM AND OUNCE

In light of these developments, the price of a gram of gold reached 4,935 TL in domestic markets, the highest level in the history of the Republic. In international markets, the price of an ounce of gold reached $3,658, reaching a 45-year high. Currently, the price of a gram of gold in the Grand Bazaar is 4,938 TL, while the price of an ounce is $3,644.

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All Eyes on the Fed's Interest Rate Decision! Expectations of a Rise Until 2026

İslam Memiş stated that next week is critical due to the Fed's interest rate decision. He noted that the Fed is expected to initiate a rate cut process, predicting two or three interest rate cuts by the end of the year and predicting this process will continue into 2026. In line with this expectation, Memiş stated that the price of gold per gram is now focused on the 5,000 Turkish Lira level, with the target for 2026 being between 6,000 and 6,500 Turkish Lira.