Escalating tensions in the Middle East following attacks by the U.S. And Israel on Iran have driven demand for “safe haven” assets, sending gold prices on a volatile trajectory. The market reaction underscores investors’ sensitivity to geopolitical risk. Gold prices, which had experienced a sharp decline earlier in the week, have reversed course, attracting significant investor attention.
GOLD PRICES – MARCH 7, 2026
GRAM GOLD PRICE
BUY: 7,301.06 TL
SELL: 7,301.96 TL
QUARTER GOLD PRICE
BUY: 11,854.23 TL
SELL: 12,152.52 TL
HALF GOLD PRICE
BUY: 23,634.37 TL
SELL: 24,305.04 TL
FULL GOLD PRICE
BUY: 47,534.51 TL
SELL: 48,461.43 TL
REPUBLIC GOLD PRICE
BUY: 48,907.00 TL
SELL: 49,663.00 TL
GOLD OUNCE PRICE
BUY: 5,153 USD
SELL: 5,153 USD
CLICK HERE FOR CURRENT GOLD PRICES…
WHY IS GOLD FALLING?
Global markets continue to react to escalating conflict in the Middle East. Increased aerial attacks by the U.S. And Israel against Iran, coupled with the potential for a prolonged regional war, prompted investors to seek safe haven assets like gold. However, the attacks continue to fuel broader global anxieties.
The situation poses significant negative consequences for global trade, particularly if the Strait of Hormuz were to be closed, impacting oil prices and commodity pricing.
Belgin Maviş, Founding Partner of BLG Financial Consultancy, told Milliyet.com.tr: “The Middle East is a firestorm… Tehran’s attacks on locations in Lebanon, Qatar, the UAE, and the British airbase in South Cyprus are continuing to increase anxiety worldwide.”
“The Iran issue doesn’t appear to be something that can be resolved in four weeks, as Trump suggested. They want to use their arsenal to the last moment, and despite losing senior officials, the Revolutionary Guards have the potential to quickly bring in new leadership.”
“this situation will have serious negative consequences for global trade, especially if the Strait of Hormuz is closed, including significant impacts on oil prices and commodity pricing. There is likely to be a sharp rise in natural gas prices, which will seriously disrupt the fight against inflation. We have already seen oil prices rise to around $80 a barrel. Stock markets started the new week with significant selling pressure.”
Reports indicate that oil-producing countries are considering increasing production, but Israel’s counterattacks and the coordinated operation with the U.S. Against both Beirut and Iran could prolong the process.
Analysts point to key thresholds in gold’s technical outlook. The $5,410 level is being watched as a critical resistance point in the spot market, with a break above potentially accelerating gains to $5,506.
Potential pullbacks, however, highlight $5,302 as a strong support level. A drop below this level could spot prices retreat to the $5,194-$5,253 range.
WILL GOLD RISE AGAIN?
Maviş added: “It depends on whether China takes steps on the commodity side. There may be limits on transactions, or collateral requirements. We will look at those. As long as the risks continue, the increases in both gram gold and gram silver will continue.”
“We may see sales above 135 TL in silver. Technically, a pullback to the 120-115 TL band is possible. In gram gold, we may see movements depending on developments in the band below 7,350 TL and above 8,200 TL.”
“Turkey is at a very critical point, so the possibility of the Central Bank not cutting interest rates, and the possibility of triggering inflation upwards, will continue to keep gram gold strong.”
