Gold prices started the day with a rise
The gram of gold is trading at 1,665 liras after starting the day with increases.
The price of a gram of gold, which yesterday followed a horizontal course, ended the day at 1,658 liras, just above the previous close.
The price of a gram of gold stands at 1,665 lira, up 0.5 percent at 11:00 a.m., after starting the new day with an increase. From the same act, a quarter of gold is sold for 2,750 liras and the gold of the Republic is sold for 11,240 liras.
The price per ounce of gold currently stands at $1,867, up 0.4 percent.
THE FED AND ECB ARE SLOWLY BECOMING DOVATIVE
Analysts stated that a positive trend was observed in global stock markets due to strengthening expectations that the monetary tightening measures of the United States Federal Reserve (Fed) may have come to an end and that the conflicts between Israel and Hamas continue. the focus of investors.
Although pricing in the money markets strongly highlights the expectation that the Federal Reserve and the European Central Bank (ECB) will keep the policy rate constant in the meetings that will be held during the rest of the year, the tone of The verbal guidance of the bank members are gradually becoming “moderate.”
Atlanta Fed President Raphael Bostic stated in his statement yesterday that he did not believe it was necessary to raise interest rates further and that monetary policy was tight enough to bring inflation back to the 2 percent target. .
DEMAND FOR SAFE HARBOR ASSETS INCREASED AFTER CONFLICTS
Analysts stated that with these messages, the fall in bond interest rates supported the price of an ounce of gold, and that events in the Middle East continued to increase demand for safe haven assets.
Analysts stated that possible signals on the subject in the minutes of the Fed meeting to be announced today could increase volatility in the prices of raw materials, especially gold and precious metals, and reported that the Price Index data to the Producer (IPP) that will be announced in the country is also in the focus of investors.
Analysts noted that the flow of news about the conflicts between Israel and Hamas continues to be on investors’ agenda, and that from a technical perspective, the range of $1,850 to $1,840 in the price of an ounce of gold is a support and $1,880 is resistance. (AA)