Gram Gold Is At The Peak Of This Year

Gold is trading at the edge of the critical technical level in transactions on Thursday.

Gram gold is at the peak of this year. While gold is trading very close to its 100-day moving average, gram gold started to be traded at this year's highest level with the rise in USD/TL rate and global gold prices. The precious metal is hovering at the limits of its 100-day moving average, known as the critical technical level, climbing above $ 1,790, with a decline in US Treasury bond yields. Gram gold, on the other hand, reached the highest level of 2021 by following the rise in USD/TL exchange rate and global gold prices. While the 10-year US Treasury bond yield was near its lowest level in the last 5 weeks, the declining interest rates made gold, an interest-free asset even more interesting. The 10-year US Treasury bond interest rates, which rose to 1.75 percent in March, dropped to 1.53 percent in April. The Bloomberg Dollar Spot Index, which measures the performance of the US dollar against ten leading global currencies, is about 2 percent behind its peak in March. Commenting on the issue, Oanda Senior Market Analyst Jeffrey Halley said, “Gold is at a level close to its 100-day moving average of $ 1,803. A day close of this level in gold will signal a strong uptrend. The intermediate support level is $ 1,775 ”

Ounce Gold

Ounce of gold went up in April after completing the first quarter of the year with a poor performance and is trading at its highest level since the end of February. The ounce of gold, which started the week at $ 1,775, was traded at $ 1,792, climbing to the highest level of the last 2 months in Thursday's trading after retreating to $ 1,765 on Tuesday.

Gram Gold

Gram gold, which completed the first two months of this year with a decline with the decrease in global gold prices and USD/TL exchange rate, followed the rise in USD/TL rate and completed with a gain close to 10 percent, despite the decrease in global gold prices in March. Gram gold surpassed 463 TL, the highest level of 2021, and is traded at 475 TL in transactions on Thursday.