New Week in Gold Market Starts with a Decline
Investors monitoring the impact of developments in West Asia on inflation and interest rates faced a horizontal-negative opening in the gold market at the start of the new week.
Gold prices started the week with a horizontal-negative trend as investors evaluated developments in West Asia and the potential impacts of the conflict on inflation and interest rates.
Current Gold Prices and Levels
According to current data, gram gold is trading at 6,849 TL, quarter gold at 11,165 TL, Republic gold at 44,502 TL, and ounce gold at 4,360 dollars.
Geopolitical and Economic Factors Affecting the Market
Tensions in West Asia, oil prices, and the central banks' interest rate hike cycle continue to be decisive in the gold market's search for direction.
KCM Trade Chief Market Analyst Tim Waterer stated that gold could trade in the range of 4,200 to 4,580 dollars in the short term.