Rise in gold and silver begins

Weak US data and expectations of loose monetary policy have pushed gold higher. While ounce gold is nearing the 5 thousand 60 dollar threshold, gram gold is trading at the 7 thousand 90 lira level. A recovery trend is also notable in silver.

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Gold prices have continued their rise under the influence of increasing uncertainty in global markets and expectations regarding monetary policy. Ounce gold has climbed above 5 thousand 60 dollars, approaching its highest levels in approximately two weeks.

The fact that US retail sales for December remained below expectations was a decisive factor in the rise. The weak data pointed to a loss of momentum in consumer spending while increasing concerns about a slowdown in economic growth. This picture strengthened expectations that the US Federal Reserve (Fed) might pursue a looser policy.

Investors have focused on employment and inflation data to be released in the coming period to receive clearer signals regarding the Fed's potential moves.

CENTRAL BANK DEMAND AND GEOPOLITICAL RISKS

Another factor supporting the rise in gold has been the strong demand from central banks. The People's Bank of China (PBoC) continued to increase its reserves in January by continuing its gold purchases for the 15th consecutive month.

Geopolitical developments have also been effective in pricing. The ongoing tension between the US and Iran has kept risk perception alive and supported safe-haven demand, despite the initial contacts between the parties being positive.

OUNCE GOLD

Ounce gold started the day at 5 thousand 30 dollars. During the day, the lowest level of 5 thousand 20 dollars and the highest level of 5 thousand 60 dollars were seen. Transactions are continuing around 5 thousand 54 dollars.

GRAM GOLD

Domestically, gram gold opened at 7 thousand 56 lira. Moving in the range of 7 thousand 42 lira to 7 thousand 99 lira during the day, gram gold is trading at 7 thousand 90 lira.

RECOVERY SIGNAL IN SILVER

Silver prices have also entered a trend of compensating for their losses. Ounce silver headed toward the 83 dollar threshold with an increase of nearly 2 percent. Disappointing data regarding the US economy and a loss of confidence in US assets have increased safe-haven demand.

Following the speculative rise and sharp sell-offs experienced in the last two weeks, investors are maintaining a cautious stance against volatility in the metal market.

OUNCE SILVER

Ounce silver started the day at 81 dollars. During the day, the lowest level of 80.62 dollars and the highest level of 82.82 dollars were recorded. The price is trading at the 82.62 dollar level.