Four-month high approaching in gold: Gram gold nears critical level
While ounce gold holds above the $4,500 threshold, gram gold tested 6,978 TL in the morning hours, nearing its peak.
Gold prices started the fourth trading day of the week with an upward trend. While ounce gold is attempting to remain above the $4,500 level in global markets, gram gold has also continued its upward trajectory domestically.
Ounce gold began the day at $4,497.23. Developments regarding the US bond market are cited as influential in the precious metal trading near its highest levels in the last two months. The US Treasury's announcement that it will increase liquidity support for long-term bonds has put pressure on bond yields and the dollar, while providing support to gold.
Domestically, gram gold was trading at 6,936.93 TL in the morning hours. Having tested the 6,978 TL level during the day, gram gold has thus approached its highest level in the last four months.
| Gold type | Selling price |
|---|---|
| Gram gold | 6,936.93 TL |
| Quarter gold | 11,293.00 TL |
| Half gold | 22,580.00 TL |
| Full gold | 44,410.06 TL |
| Republic gold | 44,994.00 TL |
| Gremse gold | 111,365.72 TL |
| Ounce gold | $4,497.23 |
It is stated that intraday movements in the markets may change depending on ounce gold, the dollar/TL exchange rate, and global risk appetite. Investors continue to monitor the impact of the course of US bond yields and the dollar index on gold prices.
News Source: 12punto
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