Gold Focused On The Comments Of FED Officials

Gold focused on the comments of FED officials. The precious metal is hovering around $1,770.

Gold is following a sideways course around $1,770 as investors focus on comments from FED (US Federal Reserve) officials. Gram gold, on the other hand, is advancing around 494 TL, with the rise in the USD/TL exchange rate balancing the loss in global gold prices. Dallas Fed Chairman Robert Kaplan stated that the US economy will reach the targets set by the central bank for asset purchase reduction faster than expected. Boston FED Chairman Raphael Bostic, on the other hand, stated that the FED will make a decision on reducing asset purchases in the coming months, and shared his view of increasing interest rates in 2022 against the expected rapid economic recovery.

Ounce of Gold

While the 50-day moving average of the ounce gold crossed the 200-day moving average on Thursday, technical analysts interpreted this as an uptrend. According to the relative strength index, ounce gold trading is around $ 1,774 on Thursday morning.

Gram Gold

With the global gold prices and the rise in USD/TL exchange rate, gram gold, which broke a record by rising to 527 TL at the beginning of June, seems to have decreased to 494 TL on Thursday after trading around 500 TL since last week.