Most Profitable Month Of Gold After Nearly A Year

While gold is moving towards the most lucrative month since July, 2020, gram gold is trading at 520 TL.

Most profitable month of gold after nearly a year. With inflation concerns and a weakening US dollar, gold is heading towards its most lucrative month for the first time since July 2020. Gram gold reached above 520 TL with the increase in global gold prices and the rise in USD/TL exchange rate. After starting at $1,770 in May, the ounce of gold gained more than 7 percent and climbed above $1,900. Gram gold, on the other hand, started the month around 470 TL and tested 525 TL, following the rise in global gold prices. The 10-year US Treasury bond yield, on the other hand, had risen to 1.70 percent on May 13, after starting May around 1.64%. The Bloomberg Dollar Sports Index, which measures the value of the dollar against the 10 most traded currencies, is preparing to close the month at the level of 1.117, which started at 1.134.

Ounce Gold

Having completed 4 weeks in a row with earnings in March, ounce gold experienced the longest weekly earnings streak of 2021. Ounce gold started the first trading day of the new week at the level of $1,906 with a flat course.

Gram Gold

Gram gold, which started the week at the level of 509 TL, completed the week above 520 TL. The rise in gram gold was influenced by the fact that the USD/TL rate ended the week with more than 2 percent rise and the rise in global gold prices.