Downward trend in gold prices and September retirement promotion campaigns
While gold prices have experienced a decline amid developments in the markets, experts anticipate that selling pressure may continue. Meanwhile, banks have updated their promotional amounts for retirees as of September.
This week, gram gold lost 2% and ounce gold lost 2.5% in value. While experts state that selling pressure could continue until the middle of 2027 due to expectations of Fed rate hikes and pressure on oil prices, banks have also updated their retirement promotion payments.
Changes in Gold Prices
This week in the markets, gram gold experienced a loss in value of 2%, and ounce gold lost 2.5%.
Gold and Money Markets Expert Şirin Sarı shared the latest developments and price expectations in the markets.
Fed Expectations and Selling Pressure
Following the meeting between the leaders of the US and China, it was stated that the main effect on gold stems from expectations of a Federal Reserve interest rate hike.
It was noted that the expectation for a rate hike in October reached the 70% level, and this situation puts pressure on gold.
Could Continue Until 2027
It was stated that the rise in oil is unsettling central banks and bringing interest rate increases along with it.
It was conveyed that if oil and interest rate increases continue, selling pressure on gold could last until March or June of 2027.
Year-End Price Expectations
Experts point to a range of 6,500 to 7,500 Turkish Liras for gram gold by the end of the year.
On the ounce gold side, it is stated that the year-end expectation is shaping up in the range of 3,800 to 4,500.
Retiree Promotion Campaigns
As of September 2026, banks have updated their retiree promotion campaigns and announced new amounts.
It was reported that total payment amounts vary depending on the salary amount and the use of additional products or services offered by the banks.
Current Bank Payments
QNB offers up to 20,000 Turkish Liras in cash promotion to retirees who commit to a 3-year term.
Yapı Kredi provides payment opportunities totaling up to 30,000 Turkish Liras with basic promotions and additional rewards such as bill payment orders.
Promotions of Other Banks
Şekerbank states that total payments reach 35,000 Turkish Liras if various banking products are utilized.
İş Bankası announced that the total promotion in its campaign targeting retirees rises up to 25,000 Turkish Liras.
Other Alternatives in Promotions
Garanti BBVA makes a total payment of 25,000 Turkish Liras with up to 15,000 Turkish Liras in cash and bonus opportunities up to 10,000 Turkish Liras.
ING increases the total payment to 32,000 Turkish Liras with cash promotions of up to 15,000 Turkish Liras and additional opportunities, while DenizBank reaches up to 30,000 Turkish Liras.