Sharp Decline on Gram of Gold

Sharp Decline on Gram of Gold A sharp decline was recorded on gram of gold, which saw 540 TL on November 6. After the resignation of Minister Albayrak, gold prices decreased by 2 percent in parallel with the decrease in the dollar / TL exchange rate. Gram prices of gold, which broke record after record in the past days, started the new week with a decline after political developments. Having seen the peak of its history by exceeding the level of 540 TL on November 6, gram of gold decreased by almost 2 percent. According to the calculation made on the ounce price of gold and the dollar / TL exchange rate, ram of gold tested 515 TL. Bankers noted that investors were selling gold on the retail side. Dollar / TL stretched sharply to the new week after the heavy news flow at the weekend. The price of ounce of gold lost value in global markets after the finalized election results in the USA.   What Happened on the Weekend? - Central Bank of the Republic of Turkey (CBRT) President Murat Naci was dismissed and Naci Ağbal was brought in his position. - Minister of Treasury and Finance Berat Albayrak resigned from his duty with a post on his social media account. Minister Albayrak gave the following statements in his post: “I have decided not to continue my job due to my health problems. In the next period, I will spend time with my mother, father, wife and children, whom I have neglected for many years due to necessity and they never withheld their support”