Risk of sharpest weekly loss for gram gold in four months

The decline in ounce gold has reflected on the domestic market. As gram gold fell to 6,405 TL, its weekly loss reached 3.35 percent.

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Risk of sharpest weekly loss for gram gold in four months

The sharp pullback in gold prices in global markets has also reflected on the price of gram gold in the domestic market. As of 07:45 TSI on October 23, 2026, gram gold retreated to the 6,405 TL level. It was noted that a low of 6,369 TL was tested during the day.

In gram gold, which closed at 6,420 TL after losing 2.65 percent in yesterday's trading, the weekly decline rose to 3.35 percent. If the current outlook is maintained, it will mark the sharpest weekly loss for gram gold since the week of June 1.

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CRITICAL LEVELS AND GLOBAL PRESSURE

Analysts state that the 6,470-6,430 TL band is being monitored as an important support zone for gram gold, and that prices have fallen below this range with the latest decline. Pointing to a weakening in the technical outlook, experts draw attention to the fact that the 200-day moving average is at 6,765 TL, while the 50-day moving average is at 6,740 TL.

It is assessed that it is important for the gram price to rise above 6,430 TL again, and that this may depend on a recovery in ounce gold. According to analysts, the next support level for gram gold stands out around 6,330 TL.

Ounce gold has also remained under pressure in global markets. The ounce price slipped below 4,000 dollars for the first time since July 29, retreating to 3,986 dollars. As of 07:40 TSI, it continued its search for balance near 4,005 dollars.

The approach of oil prices to 115 dollars, concerns over high inflation and high interest rates, and the acceleration of the trend toward cash in markets following sharp losses in technology stocks are cited among the prominent factors in the decline of ounce gold. Analysts state that the decline in US bond yields and the moderate outlook in the dollar index are supportive for ounce gold, but that pressure stemming from oil and the Fed limits the rise.

While ounce gold lost 6.57 percent in September, the decline in October has reached 3.69 percent. This picture causes gram gold investors to closely monitor global pricing and critical support levels in the short term.

News Source: 12punto