Warsh's Remarks Shake Gold: Turkey's Gram and Quarter Prices Hit Record Lows

Federal Reserve Chair Kevin Warsh's recent remarks sparked an immediate sell‑off in the gold market.

Fed Official's Remarks and Market Reaction

Warsh signaled easing inflation pressures while emphasizing that rate hikes remain sustainable. The message amplified risk‑off sentiment, pushing ounce gold down %1 to $4,544.

Turkey's Gram Gold and Quarter Price Movements

Domestically, gram gold slipped %0.6 to 7,076 TL, and by evening fell another %3, breaking below 7,000 TL. Quarter gold dropped to 11,300 TL.

Global Commodity Flow and Risk Perception

■Spot silver fell %0.4 to $68.90.

■Ounce gold bid stood at $4,458, ask at $4,459, with a daily decline exceeding %3.

■Market participants anticipate higher FX and commodity risk premiums following Warsh's comments.

Markets are interpreting the Fed official’s stance as a monetary policy signal, heightening gold demand volatility in inflation‑sensitive economies like Turkey. The short‑term price dip reflects a shift toward more liquid assets; however, persistent inflationary pressures could restore gold’s safe‑haven appeal. This dynamic will likely exacerbate the TL’s vulnerability against foreign currencies, complicating the central bank’s policy decisions.