How gram gold started the day

Gram gold closed yesterday at 6 thousand 595 liras, with a decrease of 0.54 percent compared to the previous closing. Gram gold, which started the day with sellers, is traded at 6 thousand 572 liras as of 09.20, with a 0.4 percent decrease compared to the previous closing. As of the same minutes, quarter gold is sold for 10 thousand 779 liras, and republic gold is sold for 42 thousand 917 liras.

While the renewed tension between the USA and Iran has an impact on asset prices, the ounce of gold is traded at 4 thousand 121 dollars with a decrease of 0.5 percent.

Despite the expectations that the USA and Iran could reach an agreement through mediators yesterday, the news flow regarding the USA's attack on a naval base in Iran increased the perception of geopolitical risk and increased concerns about energy supply.

Analysts stated that the possibility that the conflicts between the USA and Iran could expand further caused the perception of risk to remain high, and that rising oil prices continued to fuel inflation fears on a global basis.

Following US President Donald Trump's decision to exempt Russia from sanctions and tariffs, the expectation that the supply of Russian oil and fuel to the markets may increase came to the fore, while the tension in the Middle East and attacks on the energy infrastructure kept supply concerns alive.

Meanwhile, the Iran-backed Houthis in Yemen claimed that they attacked 6 regions in Saudi Arabia with ballistic missiles, cruise missiles and unmanned aerial vehicles in the last 48 hours.

As the rising tension in the region threatened the energy supply, the barrel price of December term Brent oil approached 110 dollars. Concerns that inflationary pressures may strengthen with rising oil prices have increased market sensitivities ahead of the balance sheets to be announced by leading companies this week.

Analysts stated that an intense data agenda will be followed today, including international investment position in the country, weekly ADP private sector employment in the USA, housing starts, current account balance in the Eurozone, unemployment rate in the UK and Producer Price Index in Germany.

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