- Title: Turkish gold trader says Trump's policies caused early hike in gold prices
- Date: 14th March 2025
- Summary: ISTANBUL, TURKEY (MARCH 14, 2025) (REUTERS) VARIOUS OF GOLD JEWELLERY ON DISPLAY AT SHOPS IN ISTANBUL'S GRAND BAZAAR VARIOUS OF PEOPLE AT THE GRAND BAZAAR PERSON LOOKING AT GOLD JEWELLERY AT THE GRAND BAZAAR PEOPLE SPEAKING TO SHOPKEEPER SHOPKEEPER TAKING OUT JEWELLERY FROM DISPLAY JEWELLERY STORES SHOP OWNER MEHMET ALI YILDIRIMTURK, IN HIS SHOP (SOUNDBITE) (Turkish) SHOP
- Embargoed:
- Keywords: GOLD PRICE TRUMP TURKEY
- Location: ISTANBUL, TURKEY
- City: ISTANBUL, TURKEY
- Country: Turkey
- Topics: Commodities Markets,Europe,Economic Events,Middle East
- Reuters ID: LVA001890514032025RP1
- Aspect Ratio: 16:9
- Story Text:A Turkish Gold shop owner said on Friday (March 14) that U.S. President Donald Trump's policies had led to the sharp increase in prices in recent weeks, adding that their estimations for the near-future were hit sooner than expected.
The relentless rise of gold has taken prices of the precious metal above the psychologically key $3,000 per ounce mark for the first time, as geopolitical and economic uncertainty sent investors rushing into the safe-haven asset.
"The expectation of $3,000 was seen at the end of June. But Trump's policies have changed everything and it looks like they will change everything from now on," Mehmet Ali Yildirimturk said.
Erdal Kaya, who is self-employed, said the volatility in gold prices had caused anxiety in people who use the commodity as a means for investment in Turkey, with inflation and the decline in the lira's exchange rate.
"We have to buy (gold) at one point. If we buy it, there is always the fear of whether it will go up or down," he said at the Grand Bazaar.
(Production: Mehmet Emin Caliskan, Omer Berberoglu, Ali Kucukgocmen) - Copyright Holder: REUTERS
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