Gold started the day with a decline

Gram gold closed yesterday at 6 thousand 422 liras, with a decrease of 2.67 percent compared to the previous closing. Gram gold, which started the day with sellers, is traded at 6 thousand 420 liras as of 09.30, with a decrease of 0.1 percent compared to the previous closing. As of the same minutes, quarter gold is sold for 10 thousand 590 liras, and republic gold is sold for 42 thousand 160 liras.

An ounce of gold is traded at 4 thousand 14 dollars with a decrease of 0.3 percent.

The rise in oil prices increases inflation concerns and strengthens the expectation that the US Federal Reserve (Fed) will keep interest rates high for a longer time, continuing to pressure the ounce price of gold.

Analysts stated that expectations that the rise in oil prices could fuel inflation through energy costs and cause central banks to maintain tight monetary policies for a longer period of time or even engage in additional tightening had an impact on asset pricing.

Analysts said that the household expectation survey, sectoral inflation expectations, financial services statistics and financial services confidence index will be followed in the country today, and that the manufacturing industry and service sector Purchasing Managers Index (PMI) data to be announced abroad will be the focus of the markets.

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