Rise in gram gold! How much are gram gold, quarter gold, and Republic gold?

The price of gram gold, which lost value yesterday (November 15) in parallel with the decline in the ounce price of gold, closed the day just below its previous close at 1,806 lira.

The price of gram gold started the new day with a rise and is at the 1,814 lira level as of 10:15 AM, marking a 0.4 percent gain. As of the same minutes, quarter gold is being sold at 2,990 lira, and Republic gold at 12,200 lira.

The ounce price of gold is currently at the 1,965 dollar level with a 0.35 percent increase.

Analysts stated that volatility in asset prices has increased due to the strengthening of recession concerns in the Chinese economy, as well as the negative signals received from the meeting between US President Joe Biden and Chinese President Xi Jinping.

Following the faster-than-expected slowdown of inflation in the US, data released yesterday showed that the Producer Price Index (PPI) also recorded its largest decline since April 2020 with a 0.5 percent monthly drop in October, while it came in below expectations with a 1.3 percent annual increase.

Stating that with these developments, pricing in money markets is now certain that the US Federal Reserve (Fed) will keep interest rates unchanged at its December meeting, analysts noted that expectations for the bank to begin interest rate cuts as of June next year have gained strength.

Analysts stated that today, the housing price index and weekly money and bank statistics domestically, and weekly jobless claims, the Philadelphia Fed manufacturing index, capacity utilization rate, and industrial production data in the US, as well as the news flow regarding the Israel-Palestine conflict, continue to be in the focus of investors, noting that technically, the 1,980 and 1,990 levels are resistance, and 1,950 and 1,940 dollars are support positions for the ounce price of gold.

News Source: AA