Gold Started To Regain Its Value

Gold started to regain its value. The commodity is on its way to closing the week with gains.

The precious metal, which has lost value for the last 3 weeks, is heading towards closing the week with gains, supported by the correction in the US Treasury bond interest rates. Due to rising bond yields, gold returned some of its gains and dropped to $ 1,720. Gram gold, on the other hand, was caught in the middle due to the strengthening of the US dollar and the fall in global gold prices.   Stimulus Package Accepted in USA US President Joe Biden signed the $ 1.9 trillion economic stimulus package and stepped in federal aid against the coronavirus outbreak. It is stated that the payments of $ 1,400 to the Americans will begin this weekend. With the 10-year US Treasury bond interest reaching up to 1.60 percent at the beginning of the week, gold, which reached $ 1,680 per ounce at the beginning of the week, started to rise again after the interest rates fell to around 1.52 percent after Wednesday's trading.   Ounce Gold While gold, which has depreciated in the last 3 weeks, due the correction in bond yields and the weakening US dollar, is on its way to ending this week with gain, started to fall again yesterday. Starting the week at around $ 1,700, an ounce of gold is getting ready to close the week at $ 1,719, up 1.11 percent after falling to $ 1,680.   Gram Gold Due to the increase in USD/TL exchange rate, gram gold started the week at the level of 412 TL and increased to 422 TL. Gram gold is preparing to close the week at around TL 414, since the USD/TL exchange rate declined from 7.78 to 7.50.