Gold Dipped When The ECB Did Not Change The Amount Of Bond Purchases

When the ECB did not change the purchase of bonds, gold fell sharply. Gold lost about $ 25 during the day.

When the European Central Bank (ECB) did not change the amount of bond purchases, gold prices dipped. Gold prices decreased by around $ 25 during the day when the European Central Bank's (ECB) bond purchases did not change compared to last week. Gram gold, on the other hand, followed a mixed course between the rise in the USD/TL and the fall in global gold prices. The ECB purchased $ 2.3 trillion in public sector bonds on Monday, while buying $ 266.5 billion in corporate bonds. While the ECB's bond purchasing speed did not change, the 10-year bond interest rate in Germany rose 3 basis points during the day.

What Was The Price Of Ounce Gold?

Gold, which has lost about 9 percent since the beginning of the year, does not seem to be out of the red zone in March after closing the first two months of the year with a depreciation. According to Bloomberg Metal and Mining Writer Jake Lloyd Smith, gold could drop to below $ 1,700 per ounce in the June-Period with the rise of bond yields and the US dollar. Gold prices, after rising to around $ 1,745 per ounce last week, remained around $ 1,708 on Monday, down 1.24 percent.

Price for Gram of Gold

Gram gold, which recorded a significant decrease last week with the increase in the USD/TL exchange rate, started to decrease after reaching around 470 TL. With the decrease in global gold prices, gram gold, which increased up to 454 TL in parallel with the increase in the USD/TL exchange rate during the day, fell to 449 TL.