Gold Recaptured Its Weekly Losses

Gold prices soared with the fall in the US Treasury bond yield and the weakening of the US dollar.

Gold recaptured its weekly losses. Gold prices rose back to the levels they started the week with the decline in the US Treasury bond yield and the depreciation of the US dollar. Gram gold fluctuated throughout the week. With the decline in bond yields and the loss of strength in the dollar, gold prices erased this week's losses. Gram gold is also preparing to close the week with a horizontal course, as the decline in the USD/TL exchange rate balances the increase in global gold prices. The 10-year US Treasury bond yield rose by more than 10 basis points this week to 1.77 percent and fell to 1.66 percent after hitting a 14-month high. The new spending plan announced by US President Joe Biden also led to increased expectations for an increase in inflation and the dollar to lose power. The Bloomberg Dollar Spot Index declined from its peak by 0.6 percent after an increase of around 0.4 percent during the week.

Ounce Gold

Gold started 2021, showing its worst quarterly performance since 2016, and completed March with a loss of 1.5 percent. With the 10-year Treasury bond interest rate and the depreciation of the US dollar, ounce of gold is traded at $ 1.732, gaining 1.43 percent since yesterday.

Gram Gold

Gram gold had a bumpy week, affected by the fluctuating course of USD/TL exchange rate and ounce during the week. Having reached the peak with 460 TL during the week, gram gold is preparing to close the week at 452 TL.