Gold prices recover and rise in global markets
Spot gold, which declined under pressure from a strong dollar, climbed to $4,136 with a pullback in the dollar index and bargain hunting, while gram gold trades at 6,542 TL in the domestic market.
Following Wednesday's decline, the markets turned around, pushing the spot gold ounce price up to $4,136. In the domestic market, according to current data, gram gold finds buyers at the level of 6,542 TL.
Recovery in Ounce Gold
Spot gold, which fell to $4,066 on Wednesday under pressure from a strong dollar and US Treasury bond yields, had seen its lowest level since August 5. On Thursday, with the easing in the dollar index, investors engaged in bargain hunting, causing the ounce price to gain 0.6 percent in the morning hours.
Impact of the Dollar's Weakening
The weakening of the dollar made gold purchases lower-cost for investors using non-dollar currencies, and this situation significantly supported demand in the market, paving the way for prices to move upward.
Current Gram Gold Price
As a reflection of the recovery in global markets on the domestic market, gold prices made a dynamic start to the day. According to the current market table, gram gold trades around the 6,542 TL level.
Detailed Gold Prices Table
According to current data in the domestic market, the buying price of gram gold is 6,542.15 TL and the selling price is 6,543.00 TL. The buying price of quarter gold has been recorded at 10,821.00 TL, and the selling price at 10,968.00 TL.
Levels in Other Gold Types
Current figures have also become clear for other gold types in the market. While half gold is 21,649.00 TL for buying and 21,930.00 TL for selling, full gold has been determined as 43,206.00 TL for buying and 43,719.00 TL for selling.
Divergence of Views in FOMC Minutes
Behind this recovery in gold prices lie expectations regarding the steps Fed officials will take. The recently published Federal Open Market Committee meeting minutes revealed a distinct divergence of opinion among committee members regarding a rate hike.
Rate Hike Expectations
In the details of the minutes, it is seen that some members advocated for a rate increase in order to curb price shocks originating from energy and commodities. While hawkish members emphasized that this increase is inevitable in order to break demand-driven inflationary pressures, these developments reinforced expectations for a new interest rate hike in December.