Gold breaks record after record
Gold prices have reached historic levels with a rise that has captured the attention of investors. Seen as a safe haven, gold has once again come to the forefront in the markets.
Gram gold, which started the day at 4,760.67 liras, broke a record by exceeding 4,800 liras during the day. At the same time, ounce gold also reached a new peak by surpassing 3,610 dollars. Currently, gram gold is trading at 4,800.02 liras, while ounce gold is finding buyers at 3,621 dollars.
The ounce, used in the calculation of gold prices, is the British unit of weight preferred for measuring precious metals. 1 ounce is equivalent to 31.10 grams. In Turkey, the price of gram gold is determined by dividing the price of ounce gold by 31.10 and multiplying the result by the dollar/lira exchange rate. This method reveals the value of gram gold in Turkish liras.
News Source: 12punto
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