Gram gold continues its rise!

After starting the day at 2,004 TL, the price of gram gold continued its upward trend and began trading at the 2,005 TL level.

The price of gram gold, which gained value in parallel with the increase in the ounce price of gold yesterday, completed the day with a 0.3 percent rise at 2,001 TL.

After starting the new day with an increase, the price of gram gold is at the 2,005 TL level as of 10:15, up 0.2 percent. As of the same minutes, quarter gold is being sold at 3,360 TL and Republic gold at 13,690 TL.

The ounce price of gold, which has carried its upward trend into the fourth consecutive trading day, is currently at the 2,020 dollar level, 0.1 percent above its previous close.

Analysts stated that concerns that the US Federal Reserve (Fed) will start cutting policy rates later than expected remain fresh, and that ongoing tensions in the Middle East are supporting the price of gold.

Stating that clues about the path the Bank will follow in the coming period will be sought in the minutes of the Fed's Federal Open Market Committee (FOMC) last meeting to be published tomorrow, analysts noted that the verbal guidance of Fed officials will also be in the focus of investors.

In money markets, while it is considered certain that the Fed will keep the policy rate constant in March before the minutes, it is priced that there is a 65 percent probability that the Bank will not change the policy rate in May either. It is predicted that the Fed will start interest rate cuts in June with a 75 percent probability.

Analysts stated that the data agenda is calm domestically today, while the balance of payments in the Eurozone and leading index data in the US will be followed abroad, and noted that technically, the 2,040 and 2,060 dollar levels are resistance, and the 2,010 and 2,000 dollar levels are support positions for the ounce price of gold.

News Source: AA