Global markets are focused on the critical face-to-face meeting to be held today in Pakistan’s capital Islamabad, following the temporary ceasefire between the USA and Iran.
The meeting, which will be held at the highest level for the first time after the war, is closely followed in a wide range of areas, from gold prices to energy markets.
While the activity in diplomatic channels continues, a cautious course is observed in the gold and oil markets. In international markets, an ounce of gold was traded at 4 thousand 781 dollars as of 18.20 yesterday. In the Borsa Istanbul Gold Market, the kilogram price of standard gold increased by 0.6 percent compared to the previous closing, reaching 6 million 863 thousand 700 liras.
In energy markets, concerns about supply security gave way to a limited relaxation before the meeting. The barrel price of London Brent crude oil lost 0.6 percent of its value, falling to 93.4 dollars.
Analysts emphasize that the decisions resulting from the negotiations will be decisive, especially in terms of the status of the Strait of Hormuz and energy transmission lines.
LATEST SITUATION ON EXCHANGE RATES AND PARITIES
The Central Bank of the Republic of Turkey (CBRT) announced yesterday’s effective exchange rate of the dollar as 44.4845 lira for buying and 44.6628 lira for selling. The previous effective exchange rate was 44.4791 lira for buying and 44.6573 lira for selling. Foreign exchange parities in international markets were as follows: Euro/Dollar: 1.1733 Pound/Dollar: 1.3470 Dollar/Yen: 159.083
HISTORICAL SUMMIT IN ISLAMABAD
Following the process that started between the USA and Iran on February 28 and dragged the region into war, the parties are coming face to face for the first time after the temporary ceasefire was declared on April 8. During the negotiations to be held in Islamabad, the US delegation will be headed by Vice President JD Vance, and the Iranian delegation will be headed by Parliament Speaker Mohammed Baqir Qalibaf.
Making a statement before the meeting, Kalibaf stated that they had a trust problem with the USA, but they were ready to reach an agreement if the people’s rights were given. On the US side, JD Vance emphasized “good faith” and said, “If the Iranians negotiate in good faith, we are ready to lend a hand, but if they play games, we will not be understanding.” he warned.
THE BASIS OF THE NEGOTIATIONS IS THE “10-ARTICLE OFFER”
While the 2-week ceasefire process, which US President Donald Trump accepted on the condition of opening the Strait of Hormuz, continues, the final negotiations are aimed to be concluded within 15 days. In the process supported by Türkiye, Pakistan and Egypt with intense diplomatic traffic; Iran puts the release of its frozen assets and a ceasefire in Lebanon as preconditions.
On the other hand, the Israeli administration continues its attacks in the region, stating that the Lebanon issue is outside the scope of reconciliation.
Markets are closely watching whether positive news from Islamabad will increase global risk appetite.
