Expectation of 5 Thousand Dollars Announced for Ounce Gold
Mehmet Yılmaz, President of the Turkish Miners Association, evaluated recent developments in the markets and stated that ounce gold could reach new peaks by the end of the year.
Speaking in Rize, Mehmet Yılmaz, President of the Turkish Miners Association, stated that ounce gold could rise to between 4,500 and 5,000 dollars by the end of the year and that the upward trend will continue in 2027.
End of Year Ounce Gold Forecasts
Mehmet Yılmaz, President of the Turkish Miners Association, shared global developments in gold markets along with price forecasts. Speaking at the 4th Mine Search and Rescue Competition held in Rize, Yılmaz emphasized that ounce gold could reach the range of 4,500 to 5,000 dollars by the end of the year.
Price Change from Past to Present
Drawing attention to past price movements, Mehmet Yılmaz reminded that gold, which was at the 250 dollar level in 1987-1988, has today risen to the band of 4,300 to 4,400 dollars per ounce. He stated that global geopolitical developments and the American economy are decisive on prices.
Critical Resistance and Worst-Case Scenario
Yılmaz conveyed that 4,500 dollars is a critical resistance point and with the surpassing of this level, the 5,000 dollar range could be seen by the end of the year. In the possible worst-case scenario, he stated that the global production cost is between 2,300 and 2,400 dollars, and with the profit margin, the bottom level will remain around 3,000 dollars.
Advice to Investors and Exchange Rate Expectation
Recommending bank gold accounts or physical gold to investors, Yılmaz expressed that gold fund managers should be well researched. Touching upon the importance of preferring invoiced gold in gram gold investment, Yılmaz argued that the dollar exchange rate determining the price in the domestic market should be at the level of 60 to 65 TL.