Gram gold price trading at 1,785 lira level
Gram gold reached its highest level since mid-May on Friday.
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The gram price of gold is trading at the 1,785 lira level after starting the week with an upward trend.
On Friday, the gram price of gold, which moved in a rising trend parallel to the ounce price of gold, completed the day with a 0.42 percent gain at 1,782 lira.
The gram price of gold, having started the new week with a gain in value, is trading at 1,785 lira as of 11:15 AM, 0.1 percent above its previous close. At the same time, quarter gold is being sold for 2,940 lira, and Republic gold for 12,000 lira.
The ounce price of gold is currently trading at 1,981 dollars, with a 0.1 percent loss in value.
Analysts stated that the ongoing conflicts in the Middle East and the fact that US bond yields are hovering at their highest levels in 16 years continue to impact asset prices.
Although concerns that the conflicts might expand continued to prevail over the weekend, reports that Israel has postponed its military operation in Gaza have calmed market anxieties, albeit to a limited extent.
Analysts noted that the domestic data agenda is quiet today, while abroad, the Chicago Fed national activity index in the US and the consumer confidence index in the Eurozone, as well as the news flow regarding the Israel-Palestine conflict, will be monitored. They reported that, from a technical perspective, the 2,000 and 2,020 levels are resistance points for the ounce price of gold, while 1,970 and 1,950 points are in the support position.