Gold prices in global markets and expected levels until the November elections

Diplomacy traffic, US bond yields, and the course of the dollar continue to be decisive on the route gold will follow in global markets. Ahlatcı Holding Strategy Director Yücel Tonguç Erbaş predicts that gold will move in the band of 4,200 to 4,500 dollars until the elections in November.

Global Agenda and Diplomacy Traffic

The most important agenda item of the week in global markets is the negotiation traffic within the United Nations. Experts state that the possibility of renewed negotiations between Iran and the United States is being closely followed.

This week, rather than the economic data flow, messages from diplomatic developments are expected to play a more dominant role in market pricing.

Impact of Bond Yields and Oil Prices

It is stated that the recent rises in US bond yields have been effective in gold's recent movements. Despite this, the precious metal continues its effort to hold around the 4,300 dollar levels.

On the other hand, the fact that oil prices continue to stay above 100 dollars is among the factors supporting the current risk perception in global markets.

Expected Range Until November Elections

If the perception regarding the continuation of the war persists, no sharp reversal in gold is expected. Along with the US dollar and bonds, prices are projected to hover roughly in the 4,200 to 4,500 dollar range.

It is estimated that this sideways and band movement will continue until the elections to be held in November.