Spot Gold Rising in Global Markets

In global markets, spot gold increased by 2.4% last week to rise to $4,370 driven by geopolitical risks, a decline in oil prices, and a weakening dollar, while gram gold traded around 6,860 TL.

Latest Status of Spot and Gram Gold

In global markets, the ounce price of gold gained value last week under the influence of geopolitical risks boosting safe-haven demand, a decline in oil prices, and the weakening of the US dollar.

While spot gold recorded an increase of 2.4% last week to trade at $4,370, gram gold also hovered around the 6,860 TL level with an increase of approximately 1%.

Fed Policies and Interest Rate Expectations

According to analysts' evaluations, interest rate expectations and the policies of the US Federal Reserve will directly shape the future course of gold prices.

While the Fed reiterates its determination to return inflation to the 2% target, signals that additional interest rate hikes might come to the agenda are also closely monitored by the markets.

Long-Term Support Factors

For gold to experience a stronger recovery in the markets, a more pronounced drop in oil prices and a decline in US Treasury bond yields are expected.

Central bank gold purchases, strong investment demand, and continuing cash inflows into gold-backed exchange-traded funds are projected to support the precious metal in the long run.

New Week's Calendar

While the US economic data calendar is expected to be relatively quiet this week, messages from Fed officials will be the focal point in the markets.

Additionally, Trump's contacts within the scope of the United Nations General Assembly and the course of energy prices will be effective in determining the direction of the gold market in the new week.