Gold Prices Began To Fall Since The 4-Month Peak

Gold prices started to decline from the 4-month high. Gram gold, on the other hand, maintains its level depending on the US dollar.

Gold prices began to fall since the 4-month peak on Thursday as investors focused on monetary policy after the epidemic. Gram gold, on the other hand, kept at its level with the increase in the USD/TL exchange rate, despite the decrease in global gold prices. Deputy Chairman of the Fed, Randal Quarles, said on Wednesday that if the economic recovery continues to strengthen, it would be important for the Federal Reserve to begin discussing the reduction of its massive bond purchase program. While the 10-year US Treasury bond interest rate increased from 1.55 percent to 1.58 percent, expectations that interest rates would increase create price pressure on gold, which is an interest-free asset.

2 Critical Levels Will Be Followed Regarding Gold Prices

Evaluating the gold markets to Bloomberg HT, Saxo Bank Commodity Strategy Manager Ole Hansen noted that there are two critical levels in gold which will determine the upward and downward movement. Stating that there is too much liquidity in the markets and that this raises asset prices, Hansen said, "We can see stabilization at some point and gold prices may decline to 1.850. If gold can exceed the level of 1.925, then it will be possible to talk about potential high levels."

Ounce Gold Price

After the ounce of gold started the week at around $ 1,881, climbed to $ 1,912 after the bond interest and US dollar declined with the dovish messages of Fed policy makers. An ounce of gold, which fell after Vice Chairman took a more hawkish attitude on Wednesday, hovered around $ 1,899 on Thursday.

Gold Price per Gram

Gram gold, after starting the week around 508 TL, followed the rise in global gold prices and forced 520 TL. With the decline in global gold prices, the losses of gram gold, which decreased, were limited due to the increase in USD/TL Exchange rate.