Gold prices started the new day with a decline following the rise of over 1 percent recorded in the previous trading session. It is assessed that the pullback in the market is due to investors turning to profit-taking after the recent rally.
In the morning hours, ounce gold was trading at the 4,112 dollar level. In the domestic market, gram gold was offered for sale at 6,637 liras, and quarter gold at 10,875 liras.
Speaking to Reuters, Capital.com Senior Financial Markets Analyst Kyle Rodda pointed out that the pullback in prices is limited. Rodda stated that the decline could be linked to profit-taking following the peaks seen during the US trading session.
Gold prices continue to be closely monitored depending on the volatility of the ounce price in global markets and the course of the exchange rate in the domestic market.
News Source: 12punto
