Gold prices started the week higher
On Friday, the price of a gram of gold, which appreciated in parallel with the rise in the dollar, closed the day at 1,666 liras, 0.2 percent more than the previous close.
After starting the new week with rises, the price of a gram of gold is trading at 1,674 lira at 11:15 a.m., 0.5 percent more than the previous close. At the same time, a quarter of gold is sold for 2,750 lire, and the Republic’s gold for 11,100 lire.
The gold price is currently trading at $1,944, up 0.2 percent from the previous close.
THESE DATA WILL BE FOLLOWED
Analysts said that demand for gold has risen on expectations that the US Federal Reserve (Fed) will not raise interest rates for the rest of the year.
Analysts said that recently released US data hints that interest rates in the country are nearing their maximum and that keeping the official interest rate constant at the September meeting is considered safe. .
On the other hand, the first vice president of the International Monetary Fund (IMF), Gita Gopinath, stated that they expect global interest rates to remain high for a long time while the fight to return inflation to the target level continues.
The analysts pointed out that today the data agenda is calm and that the speech of Christine Lagarde, president of the European Central Bank (ECB), will be followed, and technically the dollars of 1930 and 1910 are in a position of support in the price of an ounce of Gold and the resistance of the 1950s and 1970s dollars. (BRITISH AUTOMOBILE CLUB)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
