Due to the impact of uncertainty in trade, gold prices continued their positive trend. The price of an ounce of gold traded near record levels at $2,230. Meanwhile, the price of a gram of gold approached 4,000 Turkish Lira.

The demand for safe haven assets persists amidst the uncertainty in global trade. Gold continues to hover near record levels at $2,230 per ounce. The price of gold reached a record high of $3,245 yesterday and has seen a 23% increase since the beginning of the year. US President Donald Trump signaled exemptions to be granted for additional tariffs to be applied to automobiles, following those on technology products. Trump stated to journalists in the Oval Office, “I am looking for ways to help the automotive companies. Manufacturers are shifting to parts produced in Canada, Mexico, and other places and they need some time because they are going to produce them here.” Goldman Sachs raised its 2025 gold price forecast from $3,300 to $3,700 per ounce. The company established its 2025 expectation at $4,000. UBS updated its year-end gold forecast to $3,500, while Commerzbank set it at $3,000. Investors are focusing on what path the Federal Reserve will take with its monetary policy amidst increasing recession and inflation fears. Federal Reserve Board Member Christopher Waller stated that if tariffs remain in place, interest rates may need to be lowered soon. Clues regarding a potential interest rate cut will be sought from the speech by Fed Chairman Jerome Powell today. The market is currently pricing in an 86 basis point interest rate cut by the end of the year, with the expectation that the Fed will keep interest rates steady next month. As for the prices of gram and quarter gold in parallel with the price of an ounce of gold, there has been an increase. Gram gold is traded at 3,948 Turkish Lira, while quarter gold exchanges hands at 6,475 Turkish Lira.