Gram Gold Is Following The USD/TL Rate

Gram gold is following the USD/TL rate. Ounce of gold is keeping its earnings, despite Powell's comments on the bond interest rate.

Gold is keeping its earnings, although FED (US Federal Reserve) Chairman Jerome Powell said he was not worried about a rise in the 10-year US Treasury bond interest rate. Gram gold followed a horizontal course parallel to the USD/TL exchange rate. Powell, who made a presentation to the Senate Banking Committee with Treasury Secretary Janet Yellen, answered questions about the US 10-year Treasury bond interest rate that the rise in interest rates reflects a brighter economic outlook and there is no need to worry. Stating that this is a regular process, Powell said, “I would be worried if it was not an orderly process or if conditions were tight enough to threaten our recovery.” The yield on 10-year US Treasury bonds dropped to 1.59 percent yesterday, then rose again to 1.62 percent on Thursday.

Ounce of Gold

Gold prices, which have been in a narrow band between $1,720-1,750 since the beginning of last week, started this week at around $1,745. Having fluctuated throughout the week, gold is moving horizontally around $1,735.

Gram of Gold

In parallel with the increase in the USD/TL exchange rate, the gram gold, which started the week at 470 TL, declined to 430 TL after the increase in the exchange rate. Progressing parallel to the horizontal course of the USD/TL exchange rate, gram gold is traded around 441 TL.