A chain of records under the sun: "Being cautious is the most valuable reflex in this period"

As gold prices climbed to historic records in global markets, investors once again turned to safe havens. The price of an ounce of gold reached an all-time high of $4,232, while the price of a gram of gold in Türkiye reached 5,912 TL, breaking a new threshold. Commenting on the recent surge, Ahmet Cumhur Kitiş, Chairman of the Board of Directors of DEMAŞ A.Ş., warned investors, "Caution is the most important reflex during this period."

According to experts, the rise is driven not only by market fluctuations but also by fundamental shifts in the global economic landscape. Expectations of a US Federal Reserve (Fed) interest rate cut, China-US trade tensions, and strong gold purchases by central banks have brought the yellow metal back to the center of the financial system. Bank of America revised its 2026 gold target to $5,000 per ounce, while ANZ Bank revised its year-end forecast to $4,400.

"It is essential to remain rational in this rise"

Ahmet Cumhur Kitiş, Chairman of the Board of Directors of DEMAŞ A.Ş., issued an important warning to investors while assessing the recent rise. Kitiş said, "The process we are experiencing in gold is not just about price increases; it reflects the search for global confidence. However, every rise carries the potential for correction. Caution during this period is as valuable as an opportunity. The current rally in gold is not just a coincidence; it is being shaped by the combined impact of interest rate expectations, geopolitical risks, and central bank purchases. However, the sustainability of this rise depends on balancing the risks listed above. In other words, it's possible to say 'the golden age is beginning' today, but it's also crucial to keep in mind the warning that 'a correction is imminent' tomorrow."

Kitiş believes a test of the 6,000 Turkish Lira level is likely in the short term, but emphasized that in the medium term, investors should act based on data and macro developments rather than emotional decisions. Ahmet Cumhur Kitiş stated, "If the price per ounce remains above $4,000, a range of 6,200-6,500 Turkish Lira per gram of gold is technically possible. However, these levels are not permanent bases, but rather temporary balances. Therefore, composure and portfolio diversification are extremely important."

"Gold is now the new reserve instrument"

Kitiş, noting that the share of gold in central bank reserves is rapidly increasing, said, "The world is no longer turning to foreign currency, but to value. Gold is once again becoming a reserve standard. This trend is changing not only the price but also the perception of financial security. For Turkey, the situation is a bit more delicate. Fluctuations in exchange rates and high domestic demand are pushing the gram of gold above global averages. Despite this, it's important to be wary of the cliché that 'gold always makes a profit.' Gold is a safe haven in the long term, but it can fluctuate in the short term. Therefore, investors should act with patience and planning, and be prepared for periods of stagnation as well as booms. It's true that the golden age isn't over, but this isn't a period where everyone wins at the same time. True profit lies in acting at the right time and to the right extent."

UAV

Reporter: News Center