Gold Is Following a Horizontal Course After a Sharp Decline

Gold started to follow a horizontal course after a sharp decline on Wednesday, February 17.

Gold is following a horizontal course after a sharp decline. Gold prices fell sharply on Tuesday as US Treasury bond yields rose. Gram gold, on the other hand, declined with the appreciation of the dollar in global markets. As a result of this decrease, gold reached its lowest level in 2021. Gram gold is currently stuck just above the 400's. Silver is on a mixed course. St. Louis FED President James Bullard said on Tuesday, "I expect an increase in inflation this year," and the US 10-year Treasury bond yields rose by close to 8 percent in Tuesday's transactions, reaching 1.29 on Wednesday. Bloomberg Dollar Spot Index gained 1 percent. After the ounce of gold started the week at the level of $ 1,825, it fell sharply with the US Treasury bond interest rates, which increased in Tuesday's transactions, and fell below the $ 1,790 level. As the economy begins to recover by throwing the dust of the coronavirus epidemic puts pressure on an ounce of gold, the strengthening dollar also poses a risk to gold prices. Gram gold started the week at the level of 412 and decreased gradually to 403 TL. Despite the sharp decline in global gold prices, due to the rising USD/TL with the strengthening of the dollar, gram gold prices did not drop as much as an ounce of gold. Silver, on the other hand, started the week by gaining value and climbed to $ 28 an ounce, then declined on Tuesday. Silver, following a mixed course, started Wednesday with an increase.   Ounce Gold Gold prices followed a steady course after falling below $ 1,790 per ounce, declining significantly on Tuesday evening, with rising bond yields in the US and strengthening dollar in global markets. Ounce gold is traded around $ 1,790 at 10:25 am.   Gram Gold Gram gold is stuck just above 400 TL, with the dollar/TL gaining around 1.5 percent while the global gold prices have decreased by 2 percent. Gram gold is traded around 405 TL on Wednesday with a horizontal motion.   Silver Price Silver is traded at around $ 27.34 an ounce with a 0.2 percent increase despite rising bond yields and rising dollar.