Gold, which depreciated three times in a row in international markets, might face another tough year in 2016. Ürkün said that there are not any expectations for high increases as Fed meetings will put pressure on the gold market and economic stagnation will restrict physical demand. The Fed's hesitation regarding interest rates, the increase in geopolitical risks and inflationary trends in the global economy might increase gold prices, according to Ürkün, but he said the increase will not be major. "There are estimates that gold prices might fall below $1,000 per ounce, but we expect rates to continue in a similar manner and be around $1,070 to $1,200 per ounce," he said.