Sharp Decline in Gold Prices

There was a sharp decline in gold prices. Gold has moved into a bearish zone with the US Treasury bill rate rising again.

Rising gold prices on Monday repaid their gains as the US Treasury bill rate rose again. Gram gold depreciated in parallel with the decline in the USD/TL exchange rate and the fall in gold in global markets. Last week, the 10-year US Treasury bond interest rate increased by close to 25 basis points to test 1.60 percent, then found the balance around 1.40 percent. As the bond interest started the week with a horizontal movement, gold prices started the week with an increase and reached up to $ 1,760 per ounce. After the 5 basis point rise in the US Treasury bond interest rate recorded on Monday, gold prices also fell sharply to around $ 1,710, while gram gold depreciated by approximately 15 TL.   What Was The Price Per Ounce Of Gold? Gold recorded its worst month since November 2016, with higher bond yields in February and the strengthening of the US dollar. Gold, which started February at $ 1,855 per ounce, fell sharply to $ 1,720 on the last trading day of the month. Ounce of gold found buyers around $ 1,713 on Tuesday with a depreciation of around $ 45 on Monday as the US Treasury bond interest rose from 1.40 percent to 1.45.   Price Per Gram Of Gold The gram gold, which fell behind 400 TL in parallel with the decrease in dollar / TL and global gold prices in February, started to increase again after the rising US Treasury bond interest put pressure on USD/TL exchange rate. The gram gold price, which started around 415 TL in March, was traded around 402 TL with a loss of approximately 3 percent.