Direction Change in Gold Prices: Current Gram and Ounce Gold Values
With spot gold rising to $4,132.66 per ounce, gram gold began trading at 6,547 TL, and other precious metals also gained value.
Following Wednesday's decline, ounce gold increased by 0.5% to $4,132.66, while in the domestic market, gram gold found buyers at 6,547 TL, quarter gold at 10,778 TL, and Republican gold at 42,976 TL.
Current Gold Prices
With the activity in the markets, gram gold traded at 6,547 TL, quarter gold at 10,778 TL, and Republican gold at 42,976 TL.
While ounce gold stood at the $4,138 level, half gold was recorded at 21,551 TL, full gold at 42,485 TL, and gremse gold at 106,539 TL.
Global Markets and Dollar Impact
Gold had seen its lowest level since August 5 on Wednesday due to a strong dollar and rising US Treasury bond yields.
The depreciation of the dollar made gold, priced in dollars, more attractive for investors using other currencies.
Short-Term Technical Levels
Pepperstone Head of Research Chris Weston stated that the short-term outlook for gold remains challenging and the market is under the control of sellers.
Weston expressed that for short-term bullish expectations to strengthen, ounce gold needs to rise above the $4,275 level.
Fed Interest Rate Policy Expectations
According to CME FedWatch data, markets are pricing in an 18% probability of a rate hike in October and an 80% probability in December.
High interest rates are among the factors that reduce the appeal of non-yielding gold for investors.
Global Economy Warning from the IMF
International Monetary Fund Managing Director Kristalina Georgieva stated that high energy prices, record public debt, and artificial intelligence investments pose risks.
The IMF Managing Director called on governments to take protective measures in fiscal and monetary policies.
Other Precious Metals
Alongside the movement in gold, an upward trend was also observed in other precious metals.
Spot silver rose 0.4% to $60.36, while platinum reached $1,660.05 and palladium reached $1,142.