Markets volatile following detention orders: Gram gold and dollar hit new records!

Turkey began the day with political developments and historic peaks in the markets. Following the decision to detain Istanbul Metropolitan Municipality Mayor Ekrem İmamoğlu and 100 other individuals, remarkable surges were observed in financial markets.

HISTORIC PEAK IN GRAM GOLD

Gram gold continues its upward trend, driven by both domestic developments and fluctuations in global markets. Starting the day at 3,587 liras, gram gold accelerated its rise during the night, reaching 3,647 liras and breaking an all-time record. It was reported that as of the morning hours, gram gold was trading at 3,635 liras in the Grand Bazaar.

In addition to the rising political tension within the country, upward movements in ounce gold are also drawing attention. Following the meeting between former US President Donald Trump and Russian President Vladimir Putin, the price of ounce gold rose to 3,036 dollars.

RISE IN DOLLAR AND EURO

A similar volatility was experienced in foreign exchange rates. The dollar/TL exchange rate reached a historic peak of 36.72 liras following the announcement of the detention orders. The Euro/TL exchange rate accelerated its rise, climbing to 40.18 liras.

RAPID RISE CONTINUES

The rapid rise in the dollar and euro continues. As of 10:35, the dollar has risen to 38.96 TL and the euro to 42.49 TL.

News Source: 12punto