Latest situation in gold prices | Economic News

The gram of gold is traded at 2,551 liras after starting the week with an increase.

The gram price of gold, which lost value parallel to the decrease in the ounce price on Friday, closed the day at 2,550 liras, 1.92 percent below the previous close.

The gram price of gold, after starting the new week with an increase, is at 2,551 lira as of 10:30, up 0.1 percent compared to its previous close. As of the same minutes, quarter gold is being sold for 4,250 lira, and Republic gold is being sold for 16,933 lira.

The ounce price of gold followed a downward trend on Friday, closing the day at $2,400, 1.82 percent below its previous close, and is currently traded at $2,404, up 0.14 percent from its previous close.

President Joe Biden’s withdrawal from the US presidential election has created uncertainty in global markets. While the tight monetary policies pursued by central banks around the world as part of the fight against inflation are gradually coming to an end, the possible results of the US elections continue to complicate asset pricing.

On the other hand, pricing for the US Federal Reserve’s (Fed) future policies shows that the Bank may cut interest rates three times by the end of the year.

Analysts reported that despite pricing that tight monetary policy will soon begin to ease, the ounce price of gold fell due to profit taking.

Analysts, who reported that the Chicago Fed national activity index data and the news flow regarding the presidential elections will be followed in the USA today, stated that from a technical perspective, the support level for the ounce price of gold is $2,400, while the resistance level is $2,450.