Constitutional Court ruling ignored, gram gold prices rise

In an unprecedented move, the Court of Cassation has filed a criminal complaint against the members of the Constitutional Court (AYM) who ruled that the rights of imprisoned TİP Hatay MP Can Atalay had been violated.

Following this decision, concerns that human rights and fundamental legal principles are being shelved have dominated the markets, while the dollar/TL exchange rate has turned upward.

HOW MUCH IS GRAM GOLD?

With these developments, while the ounce price of gold in global markets remains just below the 1,950 dollar level, gram gold in domestic markets, supported by the dollar/TL exchange rate, began trading at 1,788 TL.

The gram price of gold, which lost value yesterday in parallel with the decline in the ounce price of gold, had closed the day at 1,784 liras, down 1.09 percent.

HOW MUCH ARE QUARTER GOLD AND REPUBLIC GOLD?

As of the same minutes, quarter gold is being sold at 3,000 liras and Republic gold at 12,320 liras.

WHAT HAPPENED?

Following the Constitutional Court's (AYM) ruling of a rights violation regarding Gezi Park case prisoner and TİP Hatay MP Can Atalay, the Court of Cassation's 3rd Criminal Chamber completed its review of the file.

The Chamber decided not to comply with the Constitutional Court's violation ruling regarding Can Atalay, to send a copy of the decision to the Grand National Assembly of Turkey (TBMM) to initiate proceedings for the revocation of Atalay's parliamentary membership, and to file a criminal complaint with the Chief Public Prosecutor's Office of the Court of Cassation against the members of the Constitutional Court who issued the violation ruling.

Following this decision, economist Mahfi Eğilmez, who wrote an article titled 'Our Place in the World Economy', pointed to the effects of the "gradual loss of the rule of law principle" on the economy.