Gold Prices on October 21: How Much Are Gram and Ounce Gold?

While cautious anticipation continues among buyers in the gold market, according to bulletins published on the morning of October 21, gram gold finds buyers at 6,572.62 liras, and ounce gold at $4,119.97.

Developments taking place globally in the gold market continue to be reflected in prices. According to data announced on the morning of October 21, gram gold is trading at 6,572.62 TRY, quarter gold at 10,764.00 TRY, half gold at 21,522.00 TRY, full gold at 42,855.54 TRY, and ounce gold at $4,119.97 levels. Gold registered a decline for the fourth consecutive session in global markets.

The high course of oil prices makes the decline of inflation difficult, supporting expectations that interest rates could be kept high for a longer period. DHF Capital CEO Bas Kooijman points out that the increase in energy costs could strengthen expectations for tight monetary policy. Gold, which does not offer an interest yield, struggles to compete with bond and deposit instruments in a high interest rate environment, while the course of the dollar also affects international demand. On the other hand, investors are awaiting the US Federal Reserve (Fed) monetary policy meeting to be held on October 27-28 and the messages to emerge from it.