Gold prices rose today

The fall in gold prices earlier in the week came to an end yesterday.

The price of an ounce of the precious metal, which registered the lowest level of 2023 by falling below $ 1,810 yesterday, closed the day at $ 1,826 with an increase of 0.51 percent.

After starting the new day higher, the price of a gram of gold traded at 1,113 lira, up 0.36 percent before noon. In the same minutes, the gold room was sold for 1,830 liras and the gold of the Republic for 7,400 liras. The price of an ounce of gold was negotiated at 1834 dollars.

THE UNCERTAINTY CONTINUES

While inflationary pressure continues around the world, uncertainties regarding monetary policy make it difficult for asset prices to find direction.

While the US Federal Reserve (Fed) is expected to continue raising interest rates by 25 basis points at the March, May and June pricing meetings in the money markets, the European Central Bank (ECB ) will continue to raise interest rates in 2024 and maintain the policy rate, which is estimated to rise to 4 percent for the first time in its history.

On the other hand, according to data announced today in China, the fact that the manufacturing industry Purchasing Managers’ Index (PMI) beat expectations and reached the pre-Kovid-19 level, prompting an increase in appetite for risk on a global scale.

Analysts said that increased risk appetite suppressed the dollar, noting that global manufacturing PMI, inflation in Germany and construction spending in the US will be tracked today. (BRITISH AUTOMOBILE CLUB)