Gram Gold Prices in Turkey – Current Exchange Rate
How much were gram and quarter gold prices today? September 20, 2023 current gold prices
The latest situation in quarter gold prices…
Gold prices remained flat as investors remained cautious ahead of the US Federal Reserve’s (Fed) interest rate decision.
The Fed is expected to keep the policy rate unchanged today, but expectations that interest rate hikes will continue this year are strengthening.
The ounce price of gold in the spot market is trading at 1930 dollars.
The gram price of gold is 1678 liras and quarter gold is sold at 2 thousand 751 liras.
FED’S DECISION AWAITED
Although it is certain that the Fed will leave the interest rate unchanged at the monetary policy committee meeting today, uncertainty about the path it will follow for the rest of the year continues.
Analysts said that signals about how the Bank will take steps in the coming period will be sought in the policy text and Powell’s statements after the meeting.
Stating that concerns that the Fed will keep interest rates higher for a longer period of time have increased, analysts pointed out that 10-year US treasury bond yields are at their highest level since November 2007.
Analysts emphasized that oil prices, which are hovering around 10-month highs amid supply concerns, could further complicate global central banks’ fight against inflation.
Stating that rising oil prices both increase inflation and put pressure on economic growth, analysts reminded that this situation played a major role in the US going into recession in the mid-1970s.
On the other hand, yesterday, the Organization for Economic Cooperation and Development (OECD) revised its growth forecast for the global economy, which was announced as 2.7 percent for 2023 in June, to 3 percent, while the growth forecast for 2024 was reduced from 2.9 percent to 2.7 percent.
In the OECD report, “The global economy remained more resilient than expected in the first half of 2023. However, the growth outlook remains weak. With monetary policy becoming increasingly visible and a weaker-than-expected recovery from the Chinese economy, global growth in 2024 is projected to be lower than in 2023.”
EYES ON THE CENTER TOMORROW
Domestic markets are waiting for tomorrow’s interest rate decision. The Central Bank is expected to raise the policy rate by 5 points to 30 percent.