Gold Recorded its Hardest Fall In The Last Month

Gold recorded its hardest fall in the last month. The increase in US Treasury bond interest rates was reflected as a decrease in gold. Gold recorded its hardest daily loss in a month as a result of higher US Treasury bond yields. After this loss, gold prices move sideways. With the Democrats winning two Senate seats in the US state of Georgia, gold prices fell. The yield of 10-year US Treasury bonds increased by about 10 basis points to 1.05 percent. US President Donald Trump's supporters raided Joe Biden's Selection Committee meeting. After the raid in which 4 people lost their lives, a curfew was declared in the capital. While there is a slowdown in the momentum of gold, it is said that the precious metal may be supported by the increase in inflation expectations in 2021. Oanda Senior Market Analyst Edward Moya says: “The weakness of gold is thought to be due to profit realization, but the rise in US Treasury bonds has halted the dollar's weakening. Gold could see strong safe-haven purchases this quarter amid concerns about coronavirus and inflation.” Gold prices are currently trading at $ 1,921 per ounce, after losing nearly 3 percent on Tuesday. The purchase price on gram of gold is traded at 450.74 liras, while the selling price is traded at 450.82 liras.