Gold Started The Day Horizontally

Gold, which fell with the strengthening of the US dollar, started the day horizontally. An ounce of gold fell below $1,760 yesterday.

Gold started the day flat on Wednesday after hitting a two-month low yesterday as the US dollar strengthened. Gram gold also did not show much change, as the decline in global gold prices offset the rise in USD/TL exchange rate. While the strengthening of the US dollar was putting pressure on gold, analysts stated that the narrow price range traded had to be broken in order to see new price movements. Jeffrey Halley, Senior Market Analyst at Oanda, said, "Gold needs to close above $1,800 or below $1,760 for us to understand the new direction of movement." He said that gold carries more downside risks this week than last week. Saxo Bank Technical Analyst Kim Cramer said that if the previous support levels of $ 1,761 and $ 1,755 are broken, gold prices could fall to $ 1,731 per ounce. Gold ended Tuesday at around $1,761.

Ounce Gold

Gold is hovering around $1,760 on Wednesday after breaking down the narrow band it has been trading for a long time and falling to $1,757 as a result of the strengthening US dollar and the rise in bond yields.

Gram Gold

With the decrease in USD/TL and global gold prices, gram gold, which decreased to 493 TL last week, has been fluctuating around 500 TL for the last two weeks. Starting the week with more than 500 TL, gram gold is around 494 TL on Wednesday.