Gram gold exceeds 1800 liras

Gold prices, which followed a calm course in the first days of the new week, have become active as of today. While gram gold exceeded the critical threshold of 1800 liras, the trend in ounce gold also drew attention.

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Eyes in the money and commodity markets remain on the war in the Middle East. While the recent increase in geopolitical risks has boosted demand for safe havens, this situation brings upward movements in gold prices.

While Israel's attacks on Gaza remain the focus of the markets, the stance of other countries is also being closely monitored. On the other hand, a possible ground operation by Israel into Gaza stands out as another factor that will increase tension in the region.

INVESTORS AWAIT CRITICAL DEVELOPMENTS

Investors are awaiting the US third-quarter GDP figures to be announced today and the PCE price index to be released on Friday.

Nikos Kavalis, Managing Director of Metals Focus, said, "The US Federal Reserve (Fed) clearly sees higher interest rates as a way to curb inflation. Since the US economy is quite strong, there has been nothing to stop them from raising interest rates once again."

Kavalis stated that the impact of geopolitical events on gold is generally short-lived compared to the impact of macro events or financial disasters that could force global authorities to implement very aggressive monetary and fiscal policies.

NEW FORECAST FOR OUNCE GOLD

Analysts expect ounce gold to head towards the 1998 dollar resistance today. If this level is exceeded, the 2010-2014 dollar range could be targeted. In pullbacks, the first support is at 1976 dollars. Below this, the 1963-1951 dollar range is strong support.

EYES ON THE CENTRAL BANK'S INTEREST RATE DECISION

On the other hand, the interest rate decision of the Central Bank of the Republic of Turkey (TCMB) will be announced today at 14:00. The expectation in the markets is for the policy rate to increase by 500 basis points to 35 percent.

WHAT IS THE LATEST STATUS IN OUNCE GOLD?

Starting the fourth trading day of the week at 1979 dollars, ounce gold is currently rising and trading at 1985 dollars. During the day, the lowest level seen in ounce gold was 1979 dollars, and the highest was 1989 dollars.

NEW RECORD IN GRAM GOLD

The upward movement in ounce gold and exchange rates is causing the price of gram gold to rise domestically. Starting the day at 1789 liras, gram gold has crossed the critical threshold of 1800 liras. Rising to 1808 liras, gram gold reached an all-time high. During the day, the lowest level of 1783 liras was tested for gram gold.

News Source: 12punto