Gram Gold Price Reached Above 560 TL

Gram gold price reached above 560 TL. The influence of Federal Reserve Chairman Powell on gold prices continues.

Gold prices maintained their high levels with Fed Chairman Jerome Powell's comments on Friday that inflation may be more persistent than expected. Gram gold rose above 560 TL with the rise in USD/TL exchange rate and global gold prices. In his speech to the panel, Powell stated that the economic recovery is "very unstable" and that inflation may be more persistent than expected. Emphasizing that it is early to increase interest rates, Powell said, "We are patient and very careful." US Treasury Secretary Janet Yellen said she expects price increases to remain high through the first half of 2022, but does not accept criticism that the US is at risk of losing control of inflation. The ounce of gold, which had been fluctuating until the middle of last week, was as high as $ 1,810 before Powell's speech on Friday. Gold, which fell after the talk, still remains high around $1,798 an ounce. After starting the week at 530 TL, gram gold broke its record in November 2020 by finding support largely from the rise of the USD/TL rate. Then, supported by the US dollar rate climbing above the 9.60 level and the rise in global gold prices, gram gold started the new week around 562 TL.