ANKARA: Turkey’s economy minister said German investments in Turkey were fully guaranteed by both the Turkish government and its laws, and denied reports Ankara gave Berlin a list of companies it was targeting for suspected links to last year’s coup attempt.
In an interview with Reuters, Nihat Zeybekci sought to calm the rising tension between the two NATO allies, saying the crisis with Germany was temporary and both sides must refrain from talk that would cause lasting economic damage.
“The allegation that Turkish authorities gave Germany the names of German companies linked to Gulen is not true. This is fake news,” Zeybekci said in the interview in Ankara late on Thursday.
“The Turkey-Germany crisis is temporary. One must refrain from words that would cause lasting harming to the economies. Germany must reassess comments that are inappropriate.”
Germany on Thursday told its citizens to exercise caution if traveling to Turkey and threatened measures that could hinder German investment there, as its impatience grew with Ankara after the detention of rights activists.
The Die Zeit newspaper reported this week that Turkish authorities had several weeks ago handed Berlin a list of 68 German companies, including Daimler and BASF that they accused of having links to US-based cleric Fethullah Gulen, blamed by Ankara for orchestrating last July’s failed coup.
Turkey minister says German investments fully guaranteed, denies targeting firms
Turkey minister says German investments fully guaranteed, denies targeting firms
Silver crosses $77 mark while gold, platinum stretch record highs
- Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
- Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years
Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.
Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a US critical mineral, and strong investment inflows.
Spot gold was up 1.2% at $4,531.41 per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.
“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that US President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.
The US dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.
On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.
“$80 in silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next year,” Grant added.
Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.
On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.
Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.
All precious metals logged weekly gains, with platinum recording its strongest weekly rise on record.
