Gold is Progressing to its Best Performance in 10 Months

Gold is progressing to its best performance in 10 months. Gram gold, on the other hand, is at the highest levels of the last 7 months.

Gold fell on Friday amid higher U.S. Treasury yields, but is still in gains compared to the beginning of the week. Gram gold, on the other hand, moved sideways as the decline in global gold prices was offset by the rise in USD/TL exchange rate. After the 10-year US Treasury bond yield started the week at 1.63 percent, it declined to 1.55. Bond yields, which have been rising gradually since Wednesday, hit 1.61 percent on Friday.

Ounce Gold Price

Ounce of gold, which has risen over 7 percent since the beginning of the month, is progressing to its best monthly performance since July 2020. Completing the last 4 weeks with a rise, the precious metal is also preparing for the longest weekly earnings streak of 2021. After starting the week around $1,882, ounce gold is preparing to close the week at $1,893 with an increase of more than 0.5 percent.

Gold Price per Gram

Starting the week around 508 TL, gram gold reached 520 TL in following the global gold prices and the rise in USD/TL exchange rate. Despite the depreciation in global gold prices, gram gold, which limited its losses with the rise in the USD/TL exchange rate, is circulating around 517 TL on Friday.