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The Price of Gram Gold Fell to the Lowest Level in About 2 Months

Starting the new day with a decrease, the gram gold price is traded at 974 liras. At the same time, quarter gold is sold at 1,556 liras and republic gold is sold at 6,681 liras. With these prices, gram gold fell to the lowest level in the last 2 months.

The gram price of gold, which lost value in parallel with the decrease in the ounce price of gold yesterday, completed the day at 978 liras. The gram price of gold is trading at 974 liras after the new day started with a decrease. Thus, gram gold fell to its lowest level since July 22.

gram gold

Quarter and Republic Gold Prices

In the same minutes, quarter gold is sold at 1,556 liras, and Republican gold is sold at 6,681 liras. After the inflation data announced this week in the USA exceeded expectations, the gold price, which continued its downward trend for the fourth trading day in a row, fell to its lowest level since April 2020 with $ 1,655.

gram gold

Latest Situation in the Markets

Analysts said the dollar continued to appreciate against other currencies and commodities, amid inflationary concerns and recession risk, with the expectation that central banks will continue to raise interest rates. Reminding that the possibility of a 24% rate hike by 100 basis points is priced in, analysts noted that inflation data will be followed in the Euro Zone today. Analysts reported that technically gold is at $1,640 per ounce and $1,600 as support and resistance at $1,680 and $1,700.

Gül Demirci

Hello, I am Gul, I write content for Expat Guide Turkey every day. Don't forget to check it out!

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