Economy in Turkey: The Wind Turns Against Gold and Silver

Economy in Turkey: The Wind Turns Against Gold and Silver

Extract:

After starting the week with gains, gold and silver prices reversed course sharply, pulling back from record-high levels. What began as a positive session quickly turned into a steep sell-off for both precious metals, catching investors’ attention.

Sharp Pullback After Record Levels

Silver saw a dramatic move overnight, briefly reaching $84 per ounce for the first time before retreating sharply. During the day, silver’s decline exceeded 9 percent compared to the previous close, while gold fell by more than 4.5 percent. Palladium experienced an even steeper drop, with losses surpassing 15 percent.

Compared to its intraday peak, silver’s loss exceeded 16 percent, highlighting the intensity of the correction.

Strong Gains Still Intact in 2025

Despite the sharp pullback, silver has remained one of the standout performers of the year. Since the beginning of 2025, silver prices are still up by more than 150 percent.