Recent Trends in Gold Prices and Deposits

In recent days, the price of gold has undergone a significant decline, with gram gold decreasing from 3190 lira to 2960 lira within two weeks, losing 230 lira in value. This drop is part of a notable downward trend that has been ongoing for 101 days, drawing the attention of investors who express that gold prices have not shown the anticipated increase. Recently, there has been a sharp drop in prices. Conversely, deposit interest rates, one of the most discussed topics in the economic world, are on the rise. As of today, the average deposit interest rate has reached around 50%, with some banks launching campaigns to push this rate even higher. Experts view this situation as a temporary improvement, stating that an increase in gold prices is expected in the future. Forecasts suggest that the Central Bank of Turkey may consider lowering interest rates in December. Consequently, it is indicated that this might be a suitable time for investors to buy gold, given the downward trend observed. Additionally, the value of the Turkish Lira is fluctuating alongside foreign currency rates, further complicating the market dynamics.