Spot Gold Trades at TRY 6,850: Global Energy Surge Fuels Inflation Pressures

Gram gold is trading at TRY 6,850, as the recent turbulence in energy markets rekindles demand for the traditional safe‑haven asset.

Ripple Effect of Rising Energy Prices

A 2.5% increase in crude oil prices intensifies global inflationary pressures, prompting central banks to accelerate monetary tightening. This environment steers investors toward gold as a store of value.

Technical Signals in the Gold Market

■Fibonacci correction levels cluster between the 38.2% and 50% retracement zones, providing support around TRY 6,800.

■The price sits above the Kijun‑sen line in the Ichimoku cloud, indicating sustained upward momentum.

■The 200‑day moving average (MA) remains above TRY 6,750, reinforcing the long‑term bullish trend.

■RSI stands at 68, edging toward the overbought territory and suggesting caution amid potential volatility.

Macro Framework and Central Bank Policies

■The Central Bank of the Republic of Turkey (CBRT) maintains its policy rate at 13.5%, with an inflation target of 5%.

■The U.S. Fed holds rates in the 5.25‑5.50% range, exerting pressure on exchange rates and weakening the local currency.

■The European Central Bank (ECB) keeps its rate at 4.0%, supporting euro‑zone currency stability despite rising energy costs.

Caner Yılmaz – BIST 100 Technical and Quantitative Analysis Director: The movement of gram gold at TRY 6,850 reflects the impact of higher energy prices and inflationary stress. Technical indicators—especially the 200‑day MA and the bullish positioning of the Ichimoku cloud—suggest that the upward trend will likely persist despite short‑term fluctuations. However, the RSI overbought signal advises investors to manage risk and review stop‑loss levels. In the macro context, tight monetary policies and currency volatility enhance gold's appeal as a safe haven, making the integrity of Fibonacci support levels crucial for price stability.