A gram of gold is traded at 2 thousand 454 lira after starting the day with an increase. Yesterday, the gram price of gold completed the day at 2 thousand 435 liras, just below the previous closing. After starting the new day with a horizontal course, the gram price of gold is at 2 thousand 454 liras, 0.7 percent above the previous closing, as of 09.45. As of the same minutes, quarter gold is sold for 4 thousand 25 liras, and Republic gold is sold for 16 thousand 40 liras.
Developments in Global Markets
The ounce price of gold is currently trading at $2,344 with an increase of 0.7 percent. Global markets remain mixed despite growing expectations that the US Federal Reserve (Fed) will start reducing interest rates this year. While the data announced in the USA supports the expectations that the US Federal Reserve will cut interest rates this year, more clues are sought from the verbal guidance of Fed officials about the steps the bank will take in the future. While the data announced in the country point to a slowdown in consumer spending, expectations have increased that the Fed may be more likely to start reducing interest rates in the near future, in an environment where inflation pressures have eased and unemployment has increased.
Analysts stated that the decision on the timing or scope of the interest rate cut will depend on incoming economic data. Analysts stated that today, the consumer confidence index and budget balance in the country, the BoE’s interest rate decision abroad, weekly unemployment applications, housing starts and construction permits in the USA, and the consumer confidence index in the Eurozone will be followed. He noted that the levels of 2 thousand 350 and 2 thousand 400 dollars are resistance and the levels of 2 thousand 340 and 2 thousand 320 dollars are support.
