Gram Gold Prices Broke A New Record

Gram gold priced broke a new record. When the CBRT cut the interest rates, the gram gold prices soared.

Despite the horizontal movement in global gold prices, gram gold reached 543 TL, surpassing the 540 TL it reached in November 2020, when the USD/TL exchange rate exceeded the level of 9.40. With the rise in USD/TL rate and global gold prices last week, gram gold closed the day at 530 TL, recording the peak of this year. Starting the new week around 526 TL, gram gold went up to 534 TL with global gold prices and the parallel rise in USD/TL exchange rate. Gram gold last reached 540 TL during the day on November 6, and after reaching the peak of all time, it closed the day at 534 TL and reached the record day closing level. If gram gold closes today above 534 TL, it will also renew the day's closing record. USD/TL reached 9.48 percent after the Central Bank of the Republic of Turkey cut the policy rate to 16 percent at the Monetary Policy Committee meeting, while the Turkish lira became the most depreciated developing country currency on Thursday. Euro/TL has passed the level of 11.00.