Gram Gold Broke Another Record

Gram gold broke another record on October 22. Today, the price of gram gold broke a new record by exceeding 550 TL.

Gram gold climbed above 550 TL as gold rose to $1,800 per ounce in global markets and the USD/TL reached over 9.60. Concerns in the markets that inflation in the US will continue to remain high gave support to global gold prices. Gold investors will watch the panel, which Fed Chairman Jerome Powell will attend on Friday, carefully to see if any message will be given about the policy direction. Gram gold reached the peak of this year by closing the day at 530 TL with the rise in USD/TL and global gold prices last week. Starting the new week around 526 TL, gram gold climbed to 534 TL in the first days of the week with global gold prices and the parallel rise in USD/TL rate. Gram gold last reached 540 TL during the day on November 6, and after seeing the peak of all time, it closed the day at 534 TL and reached the record day closing level. Gram gold, which closed October 21 at 545 TL, went above 550 TL on Friday. After starting the week around $1,766, an ounce of gold, which has gradually risen, is on its way to close the week with more than 1% as investors expect inflation to remain high in the US and the FED will not be too hasty in raising interest rates.