Gram gold trading at 1,890 liras

The price of gram gold, which lost value in parallel with the decline in the ounce price on Friday, completed the day with a 0.8 percent decrease at 1,882 liras.

The price of gram gold started the new week with gains and is at the 1,890 lira level as of 10:30 AM, marking a 0.5 percent increase. As of the same time, quarter gold is being sold at 3,100 liras and Republic gold at 12,710 liras.

The ounce price of gold is currently stabilizing at the 2,020 dollar level with a 0.3 percent rise.

Analysts stated that the emphasis by US Federal Reserve (Fed) officials that it is still too early to consider aggressive interest rate cuts has increased volatility in asset prices.

While central banks announced their final monetary policy decisions of the year last week, and the signals received regarding the upcoming period fueled an optimistic atmosphere that interest rate cuts could begin next year, the statements made by Fed officials on Friday tempered that optimism.

In money market pricing, it is considered certain that the Fed will keep interest rates unchanged in January, when it will hold its first meeting of next year, while the probability of the bank starting interest rate cuts in March stands at 75 percent.

Analysts stated that the housing price index will be monitored domestically today, and the Ifo business climate index data will be followed in Germany, noting that from a technical perspective, the 2,050 and 2,040 dollar levels are resistance, while the 2,010 and 2,000 dollar levels are support for the ounce price of gold.

News Source: 12punto