'Democrat' wave in US elections turned gold upwards

Gram gold closed yesterday at 6 thousand 304 liras, with a decrease of 0.56 percent compared to the previous closing. Gram gold, which started the day with buyers, is traded at 6 thousand 460 liras as of 09.40, with an increase of 2.5 percent compared to the previous closing. As of the same minutes, quarter gold is sold for 10 thousand 653 liras, and Republic gold is sold for 42 thousand 415 liras.

An ounce of gold is traded at 4 thousand 16 dollars with an increase of 2.4 percent.

While the results of the Congressional midterm elections in the USA were closely followed by investors, Democrats took the majority from Republicans in the House of Representatives after the Senate, according to unofficial results.

While it is expected that there may be changes in the economic and geopolitical policies of the USA according to the election results, this situation is also expected to affect asset prices.

It is estimated that the policies implemented by the President Donald Trump administration may be disrupted as Democrats take control of the Congress in the USA. It is considered that if the Republicans lose both chambers, Trump's political room for action may narrow.

In this regard, it is evaluated that the elections in the USA will give important signals about the course of the next period in geopolitically and economically important topics. Investors consider the Democrats' election success as a downside risk for stock markets and the dollar, with the expectation that regulatory controls may tighten, especially for technology and artificial intelligence companies with high growth potential.

Predictions that uncertainties regarding the policies of President Donald Trump's administration and possible political tensions may increase are directing investors to gold, which is seen as a safe haven. This situation stands out as an important factor supporting gold prices.

Analysts stated that today, the real effective exchange rate will be followed domestically and an intense data agenda will be followed abroad, especially inflation in the Eurozone, ADP private sector employment in the USA and foreign trade balance.

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)