Gold in Turkey rises to 6.64 million lira/kg

Turnover on the precious metals exchange reached 3.89 billion lira in gold alone, with total metal trading at 3.90 billion lira and volume of 590.04 kilograms, a sign that the move was not just a headline spike but one supported by substantial activity. NMGlobal Kıymetli Madenler, Kuveyt Türk Katılım Bankası, Ahlatcı Döviz ve Kıymetli Madenler, Akbank and Uğuras Kıymetli Madenler were the most active participants, pointing to broad institutional engagement rather than thin, retail-led buying.

The local bid comes as gold strength has been reinforced across international markets. Global prices have been near record territory, and gold-backed funds have reflected that momentum: GLD, one of the largest bullion ETFs, has been trading above both its 50-day moving average and its 200-day moving average, while its recent climb in the low- to mid-$370s has coincided with improving technical momentum. GDX, the gold miners ETF, has also rebounded, with RSI readings recovering from oversold levels, suggesting investors are again leaning into the trade rather than fading it.

Adalytica’s Gold Fear & Greed Index also points to elevated demand for exposure, with sentiment at 77 and awareness at 91, both in “greed” territory. That does not guarantee further gains, but it does suggest the rally has broad visibility and may continue to attract momentum buyers if macro conditions stay supportive.

For investors, the key question is whether gold’s move is being driven by durable macro forces or by a crowded trade. If inflation, geopolitical risk and expectations of looser policy remain in place, bullion could keep finding support. If real yields rise or the dollar strengthens, the metal could quickly become more volatile. For now, the Borsa Istanbul close shows Turkish gold is still moving in lockstep with a powerful global upswing.