Gold prices reach record levels
Geopolitical tensions and expectations of changes in the Fed's interest rate policies are driving up gold prices. Quarter gold has exceeded 10,000 TL.
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While gold per ounce has been breaking records consecutively in recent days, quarter gold has also reached historic highs. Gram gold continued its rise during the day, surpassing 6,180 TL as of 17:00. Gold per ounce is trading at 4,477 dollars, approaching 5,000 dollars, while quarter gold prices have exceeded 10,000 TL.
GOLD'S ANNUAL PERFORMANCE DRAWS ATTENTION
Analysts state that central banks continuing their gold purchases is supporting the rise in prices. This year, gold has gained 70 percent in value, marking its best annual performance since 1979.
KCM Trade Chief Market Analyst Tim Waterer stated that tensions between the US and Venezuela have made gold a safe haven for investors. Waterer said, "Gold has shown a sharp rise this week on expectations that US interest rates will fall further." He also noted that investors continue to use precious metals to diversify their portfolios and preserve value, adding, "I don't think we have reached the peak in gold or silver yet."