"Stimulus Package" Effect on Gold Prices!

Gold prices returned to March levels after the 1.9 trillion stimulus package passed through the US Congress.

"Stimulus package" effect on gold prices. Precious metal rose to levels in early March, with the US Congress's approval of a $ 1.9 trillion financial stimulus package. Gram gold, on the other hand, followed the fall in the USD/TL exchange rate despite the rise in global gold prices. In addition to the stimulus package in the rise of gold, the decline in the 10-year US Treasury bond interest and the weakening dollar also supported the prices. US President Joe Biden is expected to approve the 1.9 trillion stimulus package on Friday. The fact that the inflation data in the USA were below the predictions also showed that the economic recovery and inflationary pressure are still at low levels.   Ounce Gold Starting the week at $ 1,700, an ounce of gold managed to enter the weekly earnings zone, gaining value with with rising bond yields and the expectations for the fiscal stimulus package. An ounce of gold, which has gained 1.9 percent in value since the first days of the week, has been trading at $ 1,732 per ounce, increasing by almost 1 percent since Tuesday morning, with the economic support package passed by the US Congress.   Gram Gold With the increase in bond interest and USD/TL exchange rate, gram gold started the week at the level of 412 TL and rose to 422 TL. Although the global gold prices have increased by almost 2 percent since the beginning of the week, with the USD/TL rate falling from 7.78 to 7.49, gram gold prices are also following a course of 417 TL on Thursday.