Gold ounce at its lowest level in two months
Rising geopolitical risks in global markets, the increase in oil prices, and the Federal Reserve's cautious stance on interest rate cuts have pushed gold prices down. While the gold ounce has retreated to its lowest level in the last two months, the US 30-year bond yield has reached its highest level seen since 2007.
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The downward trend in gold continues in global markets. The gold ounce completed the previous trading day with a loss of 1.84 percent at 4,482 dollars. Thus, the precious metal closed the day below the 4,500 dollar level for the first time since March 27.
CRITICAL THRESHOLD FOR GOLD OUNCE ON THE AGENDA
In the first part of trading on the morning of May 20, 2026, the gold ounce fell to 4,456 dollars, seeing its lowest level in the last two months. Market experts point out that the 4,360 dollar level, where the 200-day moving average is located, is an important support point from a technical perspective.
GRAM GOLD ALSO AFFECTED BY THE DECLINE
The retreat in the gold ounce was also reflected in gram gold prices in the domestic market. In the spot market, gram gold started the day at the 6,545 TL level. Gram gold, which fell to 6,533 TL during the day, tested its lowest level of May. In the Grand Bazaar, physical gram gold was traded at 6,595 TL, and quarter gold was traded at 10,750 TL.
US BOND YIELDS ON THE RISE
Among the main reasons for the pressure on gold prices are rising oil prices and the increase in US bond yields. The US 30-year bond yield rose to 5.18 percent, reaching the highest level recorded since July 2007.