Gold Prices Surge as Global Tensions Rise
Gold started the new week with great enthusiasm as it has been on an upward trend for a while. Global tensions and unsettling statements in the markets can affect prices. Gold, testing its safe haven status in these times, fluctuated most recently with the additional tax announcements of US President Donald Trump.
Both the movement in USD/TRY and the rise in global gold prices have pushed gram gold up to 4.419 Turkish Lira, breaking a new record. Here are the current quarter, gram, and half gold prices…
- Gram Gold: 4.403,85 – 4.404,34
- 22 Carat Bracelet: 3.982,24 – 4.013,66
- Gold (Ounce): 3.387,37 – 3.387,76
- Gold ($/kg): 108.443,00 – 108.455,00
- Republic Gold: 28.418,00 – 28.638,00
- Half Gold: 14.253,00 – 14.385,00
- Quarter Gold: 7.127,00 – 7.193,00
- Resat Gold: 28.450,47 – 28.670,95
- 22 Carat Gold TL/Gram: 3.976,54 – 4.191,23
- 18 Carat Gold TL/Gram: 3.214,81 – 3.215,17
- 14 Carat Gold TL/Gram: 2.388,33 – 3.357,42
- Gremse Gold: 70.008,02 – 71.608,06
- Full Gold: 28.003,21 – 28.555,63
GOLD OUNCE RISING: $3,400 COULD BE TESTED
In the Asian markets, gold ounce started the week horizontally but with an upward trend. While the trade negotiations between the US and EU are closely monitored in the global markets, the gold ounce traded at $3,364 as of 12:50. US futures gold contracts also balanced around $3,358.
According to analysts, the customs tariff process ending on August 1 and central bank interest rate decisions could push gold up to $3,400.
GRAM GOLD AT HISTORICAL PEAK
Gram gold, which closed at 4.351 TL last Friday with a 0.7% increase, started the new week strong. With the rise in the dollar exchange rate and the momentum in the gold ounce, gram gold had reached a record level of 4.378 TL the day before. However, it surpassed this record on July 22, reaching up to 4,419 TL.
MARKETS AWAIT FED AND ECB DECISIONS
Investors are eagerly waiting for the upcoming European Central Bank (ECB) and US Federal Reserve (Fed) decisions this week. While it is expected that the ECB will keep interest rates at 2%, a Fed official signaled a rate cut next week. These developments could increase demand for precious metals.
