Worst Quarterly Performance Of The Last 5 Years On Gold

Gold experienced its worst quarterly performance since 2016.

Worst quarterly performance of the last 5 years on gold. Precious metal performed its worst quarterly performance since 2016 as it headed towards closing the first quarter, making its worst year start since 1982. While gold prices decline with the strengthening of the US dollar and the rise in bond yields, they are preparing to close the quarter with one of the worst year start performances since 1982. Gram gold, on the other hand, follows a horizontal course with the increase in the USD/TL exchange rate balancing the decline in global gold prices. While precious metal is preparing to close the first quarter with its worst quarter performance since 2016, it will have completed one quarter with a loss for the first time after 9 quarters. Ounce of gold, which closed the first quarter with a 19.5 percent depreciation in 1982, completed the first quarter of 2021 with a decline of 11.3 percent and had its worst quarterly performance in almost 40 years. The 10-year US Treasury bond yield has increased by almost 10 basis points since the beginning of the week, hitting the highest level in the past 14 months and then declining slightly to position at 1.73 percent. Gold investors focused on US President Joe Biden's statements regarding the infrastructure spending plan he will make on Wednesday. Joe Biden will also bring up the 2022 budget, where federal funds will be allocated to areas such as climate change and health, and the first details of Biden's federal spending plans will be revealed. The reason why those investing in precious metal focused on the details of the package was the uncertainty over whether the package would create an inflationary pressure. Ounce Gold Gold, which completed the first two months of 2021 by losing value, is now negative in March. Gold is on its way to the worst quarterly performance since the fourth quarter of 2016, while the last quarter was in 2018. Gold is traded at around $ 1,730 an ounce at the beginning of the week, then lost 3 percent to $ 1,679 per ounce. Gram Gold Following the depreciation of the USD/TL exchange rate since the first days of 2021, the gram gold, which fell below 400 TL, followed the rise in the USD/TL in the last weeks and climbed to the 2021 New Year levels. Gram gold, squeezed between the rise in the USD/TL rate and the decline in global gold prices, remained flat at around 449 TL.