Gold prices decline: Ounce gold falls to $4,112

Gold prices in global markets entered a downward trend again on the second trading day of the week. Ounce gold, which closed at $4,140 after gaining 1.73 percent on Monday, gave back some of its gains in today's trading, reaching $4,112 as of 06:00 TSI. With this decline in the ounce price, gram gold started the day at the 6,639 TL level.

The cautious stance of investors ahead of the inflation data to be announced in the US and expectations that the US Federal Reserve (Fed) may raise interest rates in December are putting pressure on gold. The probability of an interest rate hike in December in the markets has risen to 84 percent from 74 percent a week ago.

On the other hand, US President Donald Trump's statement that the conflict in Iran is nearing an end following his meeting with the Prime Minister of Qatar has increased expectations for a diplomatic solution and led to a decline in oil prices. Although the decline in oil prices partially supported the gold market, short-term interest rate hike expectations limited this effect.

According to current market data, ounce gold is trading at $4,133.61 buying and $4,134.42 selling price. Gram gold is at 6,638.84 TL buying and 6,639.61 TL selling levels. Quarter gold is being followed at 10,622.14 TL buying and 10,855.77 TL selling, full gold at 43,206.00 TL buying and 43,719.00 TL selling, and 22-carat gold bracelet at 6,046.80 TL buying and 6,286.90 TL selling price.