Gold Investors Focused on Fed Meeting

Gold investors turned their eyes on the Fed rate decision and US economic data to be announced on Wednesday.

Gold investors focused on the Fed meeting. Gold prices soared on the first day of the week as investors focused on this week's Fed meeting and US economic data. Gram gold followed the rise in USD/TL exchange rate and global gold prices. Fed Chairman Jerome Powell will release his latest assessment of interest rates in the US in a speech he will deliver after the meeting Wednesday. Powell and central bank members had stated to investors that there would be no change in the language of the bank regarding inflation and interest rate expectations. While the 10-year US Treasury bond yield hovers around 1.57 percent, the Bloomberg Dollar Spot Index is at the lowest levels since February.

Ounce Gold

Ounce of gold, which completed the last week with a little gain, closed the third week in a row with an increase. Although ounce of gold completed the first three months of the year with a loss, it has been rising since the first days of April. The ounce of gold, which climbed to the level of $ 1,795 in Friday's transactions, started the first trading day of the new week at around $ 1,780 after completing the week at $ 1,775 with a rapid decline in the evening.

Gram Gold

Having started the previous week around 461 TL, gram gold had completed the week around 480 TL with the rise in USD/TL exchange rate and global gold prices. Gram gold fell below 400 TL in February and then started to rise. Gram gold started on Monday at around 482 TL, close to the high of this year.