Gold Rally Pauses as Profit-Taking Takes Hold
Following a three-day streak of premium sessions, investors have engaged in profit-taking to preserve risk appetite, temporarily dampening the upward momentum of the precious metal. At the Borsa Istanbul Precious Metals and Precious Stones Market (KMKTP), the price of standard gold per kilogram concluded the day with a 0.8% decline, settling at 6 million 185 thousand lira compared to the previous close.
Wave of Profit-Taking Hits Precious Metals
Although standard gold tested the resistance level of 6 million 255 thousand lira during the session, it failed to sustain this level by the closing bell, creating uncertainty regarding the direction of the trend on the final trading day of the week. Market participants are questioning the sustainability of current valuations amidst the shadows of geopolitical risks and central bank policies.
According to current market data as of the morning of Friday, July 24, 2026, price formations are as follows:
While macroeconomic data and uncertainties in global monetary policies continue to hold gold in its safe-haven status, short-term technical indicators are pointing towards overbought territories. In this context, the observed 0.8% correction can likely be assessed as a necessary breather for a healthy trend continuation. However, remaining below the 6 million 255 thousand lira level heading into the weekend suggests that hawkish interest rate expectations are beginning to assert their weight on price formations.