Gold Prices Surge 1.58% to Record High Amid Dollar Pressure and Fed Impact

Gold futures for August delivery on the New York Commodities Exchange (Comex) rose by $63.80 per ounce on Thursday, closing at $4,100.10. The 1.58% increase marked the largest single-day gain in both dollar and percentage terms since July 22.

Dollar Pressure and Market Reaction

■Sharp selling on Wall Street following Fed policy

■BIST under pressure as gold prices reversed

■Commerzbank reports rising capital constraints in Turkish banking sector

Gold Performance Details

■Highest settlement price since July 22

■52-week high at $5,318.40 (January 29)

■52-week low at $3,293.20 (July 31, 2025)

■Year-to-date gain of 24.5%

Key Points for Investors

■2026 settlement high down 22.91%

■2026 settlement low up 2.87%

■July month-over-month gain of 1.92%

The rally in gold prices is linked to strong dollar performance and expectations around Fed monetary policy. Capital constraints in the Turkish banking sector are also contributing factors. Investors will closely monitor how this move shapes long-term market dynamics.