Samsun Jewelers Chamber President Salih Özman, who said that gold prices have increased due to wars and tensions in the world, said, “Currently, gold prices have exceeded 2,400 dollars in world stock markets. The gram gold price in Turkey is around 2,670 TL.
This had been declining for a while. It was being said that the FED would raise interest rates faster. Gold prices at the US Federal Reserve (FED) had fallen below $2,400 and dropped to $2,370. However, we had said at the time that these declines were an opportunity for those who wanted to invest in gold, so that they could take advantage of these prices. At that time, gold prices in Turkey had fallen to 2,300 TL.
However, in the recent period, things have not been going well in America, and with some FED Presidents stating that there should be no rush to cut interest rates, it has become clear that the FED will not cut interest rates as much as expected. My personal opinion is that they will cut interest rates, but this rate cut will not be very fast. I think that interest rates will be cut at least once this year,” he said.
“Gold is a safe haven”
Underlining that gold has always been a safe haven, President Salih Özman said, “When the FED did not reduce interest rates, the dollar gained value against developing country currencies in international markets. Although it seems that foreign exchange has lost its appeal due to the abundance of foreign exchange in Turkey, these rumors have pushed the dollar exchange rate up due to the high interest rates.
