Gold prices in Turkey experienced a slight decline on Sunday, March 15, 2026, as market dynamics reacted to both international geopolitical factors and domestic financial conditions. According to data compiled from Turkish financial outlets, the price of gram gold was trading at 7,137.43 Turkish Lira for buying and 7,138.56 Lira for selling as of midday.
The fluctuations approach amid a complex interplay of global events. While traditionally considered a safe haven asset during times of conflict, gold’s price did not immediately surge following recent escalations, a phenomenon analysts attribute to the behavior of involved parties. Mehmet Ali Yıldırımtürk, President Yardımcısı of the Istanbul Mücevherciler Kuyumcular ve Sarraflar Derneği (İMKUSAD), explained that countries engaged in conflict often sell gold to raise capital for military expenditures. “War starts before gold rises. When war starts, the countries at war sell gold to buy weapons, and individuals sell gold to convert it to cash,” Yıldırımtürk stated.
The price of a quarter sovereign gold coin was recorded at 11,685.77 Lira for buying and 11,961.32 Lira for selling. Half sovereign coins traded at 23,298.51 Lira (buying) and 23,922.65 Lira (selling), while a full sovereign coin was priced at 46,947.00 Lira for buying and 47,573.00 Lira for selling. The Cumhuriyet altını, a popular gold coin in Turkey, was available for 48,344.00 Lira (buying) and 49,072.00 Lira (selling).
The international spot price of gold was $5,018.46 for buying and $5,019.25 for selling. Yıldırımtürk noted that the underlying driver of gold’s long-term value is increasing skepticism towards the international monetary system, a trend he expects to continue.
Domestic factors also contributed to the recent dip in gold prices. The timing of the conflict’s outbreak coincided with the beginning of the month, when tax payments were due, leading to a demand for Turkish Lira. The Central Bank of Turkey intervened in the foreign exchange market, selling approximately 7 billion dollars, which increased to 12.5 billion dollars, to stabilize the currency. This intervention created a liquidity squeeze in the market, prompting some investors to sell gold to acquire Lira, according to reports.
The current market conditions reflect a period of uncertainty, with investors carefully monitoring both global geopolitical developments and domestic economic policies. The ongoing liquidity constraints within the Turkish financial system continue to influence trading activity.
