Economy in Turkey: Gold Nears Record Levels, Experts Warn Investors, What’s Next?

Gold prices continue to attract attention as they hover close to historic highs. On September 22, 2025, gram gold opened at 4,917 TL while the ounce price started the day at 3,695 dollars. The market remains tense as investors watch global economic signals, U.S. data, and central bank decisions for the next move.

Global Drivers of Gold Prices

Last week, gold reached 3,707 dollars per ounce after the Federal Reserve’s rate cut decision, closing at 3,685 dollars on Friday with a 1.15% weekly rise. The new week began with ounce gold steady at 3,695 dollars, keeping its position near record territory.

According to experts, the key focus this week will be Federal Reserve Chair Jerome Powell’s speech, U.S. growth figures, and the Core PCE index. They highlighted support levels at 3,600 dollars for ounce gold and 4,780 TL for gram gold, advising investors holding gold to remain patient while short-term traders should pay close attention to U.S. economic data releases.

Domestic Market Outlook

In Turkey’s spot market, gram gold also started the week at 4,917 TL. At Istanbul’s Grand Bazaar, gram prices ranged between 5,000 and 5,050 TL in buy and sell transactions, while quarter gold was priced at 8,240 TL in the morning session.

Key Economic Data Ahead

Several U.S. indicators could shape gold’s direction this week. On Tuesday, markets will closely follow Powell’s comments. Thursday brings second-quarter growth numbers and durable goods orders, while Friday will reveal the Core PCE inflation index and the Michigan consumer sentiment index.

Forecasts expect the U.S. economy to expand by 2.8% in Q2, with Core PCE inflation rising 2.6% annually. Analysts note that weaker-than-expected results may push the Fed toward looser monetary policy, which could further support precious metals.

Expert Warnings and Targets

Experts emphasized that gold holders should not rush to sell, underlining that staying above critical support levels keeps the positive outlook intact. For long-term investors, they described every pullback as a buying opportunity, while recommending short-term traders adopt a cautious “wait-and-see” approach.

Experts also added that ounce gold gained strength after the Fed’s decision, holding above the 3,640-dollar support level. They pointed to 3,840 dollars as the next potential target if the momentum continues, warning that a drop below 3,640 dollars could shift the outlook. They also highlighted the weak dollar index, a strong EUR/USD, and declining U.S. bond yields as supportive factors for gold. (source: ekonomim.com)

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