February 24, 2026 Gold Prices: Gram, Ounce, and Precious Metals

Yeliz Akmaca — Tue, 24 Feb 2026 07:16:16 +0000

Gold climbed to a three-week high at the start of the session; short-lived though. On Tuesday, following a more than 2% gain in the previous session, investors took profits, the dollar strengthened slightly, and spot gold fell to $5,167.28 per ounce. Gram gold traded at 7,284 TL for buying and 7,285 TL for selling. The four-day rally ended, and prices are taking a light pause.

Ilya Spivak, head of global macroeconomics at Tastylive, said, “We saw a significant increase in gold prices yesterday. Now there’s a bit of a digesting phase, and it’s interesting that the panic on Wall Street didn’t spill over into Asian markets.”

Why Is Gold Falling?

The main reasons behind the pullback are profit-taking after recent sharp gains, the US dollar strengthening against major currencies, and cautious statements from Federal Reserve officials regarding interest rate cuts. Additionally, volatility in the AI sector and concerns over trade tensions have pushed the dollar as a safe haven, putting pressure on spot gold.

Dollar Strengthens Amid Geopolitical Concerns

As the dollar gains value, gold and silver priced in dollars become more expensive for holders of other currencies, creating short-term selling pressure.

US President Donald Trump warned on Monday that following the Supreme Court’s cancellation of emergency tariffs, countries should not step back from trade agreements recently negotiated with the US; otherwise, much higher tariffs could be applied under different trade laws.

Asian markets opened choppy after a new AI-driven sell-off on Wall Street but stabilized following Trump’s geopolitical and trade warnings. Gold is reacting not only to the dollar but also to global uncertainties.

Fed Expectations and Interest Rate Outlook

Federal Reserve Chair Christopher Waller said that if upcoming February employment data shows strength, they could keep rates steady at the March meeting. After weak labor performance in 2025, markets are seeking confirmation that the labor market has “found a firmer footing.”

According to CME FedWatch, the market currently expects three 25-basis-point rate cuts this year. These expectations are creating both downward pressure and potential support for gold. Short-term volatility is noticeable, with micro-movements apparent.

Gram Gold and Precious Metals Movements

Gram gold, impacted by the pullback in spot gold, fell 1.2% to 7,292 TL at mid-session. Other metals moved as follows:

Spot silver dropped 0.9% to $87.39 per ounce.
Platinum fell 0.5% to $2,142.35 per ounce.
Palladium diverged, rising 0.4% to $1,750.98 per ounce.

These movements reflect a combination of short-term profit-taking, dollar strength, and global uncertainty. Gold and silver responded more sharply, while palladium showed a modest rise.

Market Sentiment and the Days Ahead

Gold and other precious metals are expected to remain sensitive to dollar movements and global uncertainties in the short term. Spot gold retreated amid profit-taking and dollar strength; gram gold declined in Turkish lira terms. Spot silver and platinum followed similar patterns, while palladium diverged.

AI-driven trading algorithms and micro price fluctuations are causing brief, sharp reactions, often with deviant sentence structures. The trend’s direction in coming days will depend on the dollar index, Fed decisions, and global geopolitical developments.

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