The US Central Bank President Jerome Powell’s cautious statements and the climbing of geopolitical risks, gold and silver prices brought strong rise. Colonel Investment Chief Economist Assoc. Dr. Filiz Eryılmaz and Active Portfolio Research Assistant Director Ahmet Deniz Yağbasan commented on the back of the curtain of the current trend.
The latest statements of the US Federal Bank (FED) President Jerome Powell re -exacerbated the expectations of “interest rate reduction” in global markets. However, the fact that Powell does not give a clear direction of direction nurtures the perception of uncertainty in investors. Especially the harsh rise in gold and silver prices is explained not only technical but also with a psychological wave.
Assoc. Dr. Filiz Eryilmaz, Powell’ın FOMC for the first time before the public in his speech, despite the acceptance of the weakening of employment, but reminded that the risk of inflation. “Powell, the interest rate reduction opened the door, but it did not open. This was perceived as a cautious optimism by the markets,” said Eryilmaz, this uncertainty environment, especially on the gold side of the momentum trade impact.
“The rise in gold prices cannot be explained with technical indicators. Investors are currently acting with Fomo, the fear of the opportunity to miss the opportunity. This psychological wave breaks the classic purchase-sale reflexes, Ery Eryılmaz said that the main element that feeds the upward movement of gold is the search for geopolitic ties and a safe port search.
Eryılmaz also stated that the price scissors between gold certificates and gram gold reached 23 percent of the historical levels and called on investors to be careful:
“Those who will make new purchases must progress gradually. Panic purchases can be backfired. If the certificate breaks 59 TL, the technical correction may deepen.”
Ahmet Deniz Yağbasan, an Active Portfolio, says that gold prices performed above estimates in 2025, but this acceleration is not infinite. According to Yağbasan, who said, “We are approaching the end of the rise,” profit realization and sales pressure under 2026 may increase.
“The largest catalyst for gold will be the interest rate reduction process of the FED. However, if a new geopolitical risk or economic breaking does not occur, new records seem difficult underneath, Yağ said Yağbasan warned that investors should not wait again in 2026.
Will the Fed continue to discount?
According to both experts, Powell’s latest statements keep the Fed’s expectation that the Fed can make an interest rate reduction of 50 basis by the end of the year. However, the upward surprises that may occur in inflation may frustrate this calendar. Yağbasan, “the data above the expectations, the Fed again ‘wait-to-see’ position,” he once again reminded the market’s data dependence.
WARNING TO GOLDER INVESTOR
While rising prices create excitement in investors, both experts emphasize that those who will make new purchases should be cold -blooded and strategic. Eryılmaz stated that the logic of “rises further as he rises” may be dangerous and said, “Currently psychological pricing is dominant. The psychology of the investor has become decisive as much as technical levels”.
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