Gold is Heading Towards Closing The Week With Gains

Gold is heading towards closing the week with gains. Precious metal is on its way to end the third week in a row with an increase.

With the increasing spread of the delta variant and the continuation of the dovish monetary policy, gold is on its way to end the third week in a row with an increase. Gold fluctuated on Thursday after Federal Reserve reports said policymakers needed more concrete data showing economic recovery to curb its asset purchase program. In the reports, it was said that some FED members emphasized that the economy was still quite far from the targets, it was pointed out that there was little concern about inflationary pressures. It was stated that the FED should be ready to take action in case of realization of risks to inflation.

Ounce of Gold

On Tuesday, 1,815 ounces of gold, followed by $ 1,800, was written with a rapid rise. After the announcement of the FED reports, an ounce of gold was hovering at $ 1,803.

Gram Gold

Gram of gold showed an increase following the rise in global gold prices and USD/TL rate in April and May, reached 527 TL and recorded its peak today. Following the worldwide decline in gold prices, gram gold has been hovering in a narrow band since mid-June.