Ounce and Gram Gold Lost Value

Ounce and Gram Gold Lost Value

After Fed President Powell pointed out that serious risks and re-growth will take time last week, the drop in risk appetite has raised gold to above $ 1,740. However, this week, the demand for gold has fallen as the markets have turned to positive data again. Gold dropped to $ 1,712 today. With the increase of the corona virus epidemic, the risk appetite decreased in the markets, the demand for safe assets increased and the gold reached the peak of the last 8 years by rising above $ 1,760. After the summit, the price of gold also declined gradually, with the countries starting from where they left off and easing the isolation provided that the United States and Europe were the first. In addition to the economic activities that were gradually relieved in June, the support of central banks at this time increases the markets. The Fed, which raised its asset purchases to a record level, acquired emergency assets in the epidemic and increased it by 600 billion euros in its last meeting, the ECB, which increased its monetary support more in its meeting this week, and the BOE, which is expected to continue its expansion step in tomorrow's meeting, while supporting the markets, governments also support financial markets. continues its incentives. In addition to these positive events, the number of incidents in China and the USA are not rising as risky as in March. Therefore, there is a decrease in gold prices. After gold fell for three consecutive weeks last week, gold's ounce price fell back this week with the completion of last week, but was limited at $ 1,700. The fact that gold prices are still at their highest levels in recent years shows that it is still an attractive asset fund. On the other hand, gram gold, which has refreshed its record in the past months, decreased to 364 TL in June. As it is known, the gram price of gold increased up to 383 lira last week. After the dollar rate has risen above 6.80, gram gold, which has risen to 380 pounds this week, finds buyers from 377 Turkish liras in the past hour.