Gram gold approaches its all-time high
The gram price of gold is trading with gains, supported by the rise in the dollar/TL exchange rate and the price of gold per ounce, as it inches closer to its all-time high of 1,734 liras. Meanwhile, the price of gold per ounce continues to trade above 1,900 dollars.
12punto
As diplomatic steps taken to prevent the Israel-Palestine conflict from spreading to wider regions have led to a limited increase in risk appetite in the markets, the price of gold per ounce rose to 1,923 dollars in today's trading. As of 13:02, the yellow metal is trading at 1,923 dollars, up 0.16 percent.
From a technical perspective, 1,930 and 1,940 dollars are positioned as resistance levels for the price of gold per ounce, while 1,910 and 1,900 dollars serve as support levels.
Analysts, noting that news from the region is impacting the price of gold per ounce, pointed to the announcement that US President Joe Biden will visit Israel on Wednesday to receive a comprehensive briefing on Israel's "war goals and strategy," and will subsequently travel to Jordan to meet with King Abdullah II, Egyptian President Abdel Fattah el-Sisi, and Palestinian President Mahmoud Abbas.
The gram price of gold, which is calculated based on the price of gold per ounce and the dollar/TL exchange rate, is currently at 1,725 liras, up 0.52 percent from its previous close, after starting the day with a flat trend. Gram gold reached its all-time high on July 19, when it climbed to 1,734 liras.
Quarter gold is being sold at 2,840 liras, and Republic gold is being sold at 11,610 liras.
Yesterday, the gram price of gold, which lost value in parallel with the decline in the price of gold per ounce, had finished the day at 1,719 liras, down 0.41 percent.