Gold prices on the rise in global markets: How much are gram and quarter gold?
With the rise in ounce gold, gram gold is trading at 6,909 TL, and quarter gold is trading at 11,259 TL.
Following the depreciation of the US dollar, the spot price of gold per ounce increased by 0.6% to $4,429.89. With this development, gram gold finds buyers at 6,909 TL, quarter gold at 11,259 TL, and Republic gold at 44,798 TL.
Current Gold Prices
According to the latest market data, gram gold stands at 6,909 TL, quarter gold at 11,259 TL, and Republic gold at 44,798 TL.
Additionally, ounce gold is trading at $4,434, half gold at 22,481 TL, full gold at 44,473 TL, and gremse gold at 111,524 TL.
Decline of the Dollar Played a Role
The depreciation of the US dollar played a significant role in this upward movement of gold prices.
The 0.4% decline in the US dollar index made dollar-priced gold more attractive to investors using other currencies.
Critical US Inflation Data Awaited
Investors have turned their attention to upcoming economic data from the US. The Producer Price Index is expected to be released on Thursday, and the Consumer Price Index on Friday.
This data to be announced is expected to be decisive on the steps the US Federal Reserve will take at its meeting next week.
Employment Data and Markets
Data showing that employment growth in the US accelerated in August had caused a drop in gold prices in previous sessions.
The unemployment rate remaining steady at 4.1% indicated that the labor market maintains its resilience.
Geopolitical Developments in West Asia
Tensions in West Asia are also closely monitored in the markets. Statements from Iran and military activity in the region heighten concerns.
Rising geopolitical risks continue to provide support for safe-haven gold.
Other Precious Metals
The rise in gold was reflected in other precious metals, following a positive trend.
Spot silver increased by 1% to $66.78, platinum rose by 0.4% to $1,834, and palladium gained 1% to reach $1,402.87.