Gold prices start the week with an increase: How much is gram gold in the Grand Bazaar?

Gold prices maintained the upward trend they captured following the November 3 US elections and started the new week with gains. While ounce gold has settled above the $4,100 level, gram gold is finding buyers at a selling price of 6,646.75 TL in the Grand Bazaar as of November 9.

In the gold market, which closed last week with a 4 percent gain, the decline in oil prices stands out as a factor supporting the rise. Conversely, employment data released in the US, showing that the unemployment rate fell to 4.1 percent, strengthens expectations that the FED may pursue a more hawkish monetary policy, limiting price increases. The probability of a quarter-point interest rate hike by the end of the year has risen to 81 percent in the markets.

Investors have focused on the US inflation data to be released this week in order to obtain clearer clues about the FED's future monetary policy. As of November 9, gram gold is trading at 6,645.86 TL for buying and 6,646.75 TL for selling in the Grand Bazaar.