Volatile course in the gold market: Critical developments affecting gram gold prices

Global markets started the new week with a decline in gold prices. Having finished last week at 4,831 dollars per ounce, gold pulled back to 4,737 dollars at the start of the week. In the morning hours, it attempted to stabilize at the 4,796 dollar level with incoming bargain hunting. During this volatility, the loss in value of ounce gold reached approximately 0.7%.

In Turkey, fluctuations in the ounce price of gold have led to a search for a new balance in gram gold prices as well. As of the morning of April 20, 2026, gram gold was trading at 6,918 TL in the spot market, while physical gram gold reached the 6,940 TL level in the Grand Bazaar. At the same time, quarter gold found buyers at 11,388 TL.

Another topic that has recently drawn the attention of investors is the decrease in the price difference between the spot and physical markets. It is stated that the spread between the two markets for one kilogram of gold has dropped to the 600 dollar level. Experts point out that this development offers a cost advantage for investors demanding physical gold.

Developments on the energy front are also creating pressure on the gold market. Tensions in strategic passages in the Middle East and uncertainties regarding a ceasefire have pushed the barrel price of Brent crude to the threshold of 95 dollars. High inflation and interest rate expectations triggered by rising energy prices are accelerating gold's downward movement.

According to analysts' near-term technical assessments, the 4,780 dollar level, which corresponds to the 100-day moving average, stands out as a critical support point for ounce gold. In upward movements, the first significant resistance is being monitored in the 4,850 dollar band.

In light of all these developments, analysts evaluate the easing of regional tensions and the establishment of a lasting ceasefire as the “most ideal scenario” for stability in the gold market. It is stated that if this occurs, a more balanced course in gram and ounce gold prices will be possible.

News Source: 12punto