Volatile trend continues in markets: Decline begins in gold, silver crashes

Gold and silver prices continue to follow a volatile path in global markets. While an increase in safe-haven demand has been observed with rising geopolitical risks, precious metals had achieved significant gains in previous days.

The US steps toward Venezuela, its persistence in the Greenland issue, and the ongoing threats regarding Iran have led investors to turn to gold and silver. With these developments, following the US Federal Reserve's decision to keep interest rates unchanged, the ounce of gold climbed to 5 thousand 600 dollars, and the ounce of silver climbed to 120 dollars.

VOLATILITY CONTINUES

Following the record levels, gold and silver prices retreated rapidly. After a short-term recovery, prices moved downward again tonight. The loss of value in silver stood out. The rate of decline approached 14 percent, pulling the ounce price down to 88 dollars. The ounce of gold completed the day at 4 thousand 965 dollars.

CURRENT GOLD AND SILVER PRICES

As of 07:15, the ounce price of gold is at the 4 thousand 875 dollar level, while the ounce of silver is trading at 76 dollars. In domestic markets, gram gold is priced at 6 thousand 808 TL, and gram silver is priced at 107 TL. In the Grand Bazaar, physical gram gold is finding buyers around 7 thousand 424 TL.

News Source: 12punto