How the gold started the day

Gram gold closed yesterday at 6 thousand 520 liras, 1.30 percent below the previous closing.

Gram gold, which started the day with buyers, is traded at 6 thousand 574 liras as of 09.40, with an increase of 0.8 percent compared to the previous closing. As of the same minutes, quarter gold is sold for 10 thousand 800 liras, and republic gold is sold for 43 thousand liras.

The ounce price of gold is at 4 thousand 139 dollars, 0.8 percent above the previous closing.

While the acceleration of inflation in the USA, the strengthening of expectations that the US Federal Reserve (Fed) may increase interest rates and the sharp decline in technology stocks caused a decline in the stock markets, the demand for US bonds, which are seen as a safe haven, increased.

While the dollar index also decreased due to the increase in demand for US bonds, this had an impact on the rise in gold prices.

Analysts noted that central banks' continued gold purchases also supported gold prices.

Stating that weekly money and bank statistics will be monitored in the country today, analysts stated that industrial production in the Eurozone and retail sales in the USA, New York Fed manufacturing industry index, weekly unemployment benefit applications and Producer Price Index data will be followed abroad.

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