Mehmet Ali Yıldırımtürk, President of the Istanbul Jewelers, Goldsmiths and Money Changers Association, evaluated year-end and 2027 expectations regarding the gold and silver markets. According to Yıldırımtürk, the Federal Reserve's (Fed) interest rate policy, economic data, central bank gold purchases, and geopolitical developments will be decisive in the trajectory of precious metals.
Stating that the 3,870 dollar level is a key support position for gold per ounce, Yıldırımtürk drew attention to the effort of prices to remain above 4,000 dollars. He expressed that a recovery toward the 4,140-4,150 dollar range could be seen for gold per ounce in the short term.
Yıldırımtürk said that gold could maintain its upward trend in the longer term. Noting that central banks may continue their gold purchases for reserve diversification purposes, Yıldırımtürk predicted that the price per ounce could gradually rise above 5,000 dollars in 2027.
Emphasizing that the dollar/TL exchange rate, in addition to the price per ounce, is also a determining factor for gram gold, Yıldırımtürk noted that the 6,500 TL level has become a support level. Stating that the 7,000, 7,500, and 8,000 TL levels could be monitored in upward movements, Yıldırımtürk made a year-end closing forecast of 9,500 TL.
Yıldırımtürk said that the expectation that the dollar/TL could rise to the 52-53 TL band by the end of the year could also have an impact on gram gold. He stated that the shift of some maturing savings toward gold due to expectations of interest rate cuts on deposits is supporting domestic demand.
Regarding silver, Yıldırımtürk stated that there has been a calmer outlook recently, but added that usage in the energy and artificial intelligence sectors could support demand. Yıldırımtürk said that 2027 could also be a strong year for silver and that the 80 dollar level could be seen in the short term.
News Source: 12punto
