Activity in the markets continues following the joint attacks launched by the US and Israel against Iran over the weekend. The regional tension, which escalated with the killing of Iran's Supreme Leader Ali Khamenei, has also disrupted maritime traffic in the oil-rich Gulf. Following these developments, Iran carried out retaliatory strikes against US assets in neighbouring countries, including the United Arab Emirates, Bahrain, Kuwait, Qatar, Saudi Arabia, Jordan, Iraq, and Syria. The uncertainty created by the conflict environment has led investors to seek safe havens, causing a rise in commodity prices.

Longest winning streak for gold since 1973

In addition to geopolitical tensions, US President Donald Trump's efforts to reshape international relations are among the factors supporting gold prices. Strong purchases by central banks and investors moving away from government bonds and currencies are contributing to this rise. Gold recorded its seventh consecutive monthly gain in February, capturing its longest winning streak since 1973.

Three per cent away from the historic record

Driven by safe-haven demand, the price of spot gold rose by nearly 2 per cent, exceeding $5,393 and reaching its highest level in over a month. Having started the day at $5,312, spot gold tested a high of $5,393 during the day before stabilising at around $5,361. Meanwhile, gram gold entered the day at 7,442 lira. Rising as high as 7,623 lira during the day, gram gold is finding buyers at 7,580 lira. Only a 3 per cent increase remains to reach the historic record of 7,810 lira, which was broken on 29 January 2026.

Current selling prices

Current gold selling prices in the market have also been updated upwards. While the selling price of gram gold is hovering around 7,581 lira, quarter gold is trading at 13,291 lira and half gold at 26,566 lira. The selling price of full gold was reflected on screens at 51,215 lira, Republic gold at 52,881 lira, and gremse gold at 128,431 lira. The selling price of spot gold stands at around $5,357.

Silver also on an upward trend

In light of the developments in the Middle East, silver prices have also entered an upward trend, though not as sharply as gold. Starting the day at $95.06, spot silver reached a high of $96.41 during the day before trading at the $93.51 level. Gram silver began the day at 134.02 lira; despite retreating to as low as 129.76 lira during the day, it follows a course parallel to the general upward trend in the market.