Gram gold rises to 6,415 liras: Investors await Fed decision

Gold prices in global markets began to recover following their sharpest weekly decline since June; ounce gold rose to 4,007 dollars and gram gold increased to 6,415 liras.

Gold prices in global markets entered a recovery trend following the easing of inflation concerns driven by a decline in oil prices and after experiencing their sharpest weekly drop since June. Gaining approximately 0.3 percent compared to the previous close, ounce gold reached the level of 4,007 dollars. This increase in international markets also reflected on gram gold prices, with gram gold trading at around 6,415 liras with a 0.45 percent increase.

The depreciation of the US dollar globally was effective in the rise of gold prices. The dollar index fell by 0.2 percent to 101.7, also influenced by the decline in US 10-year Treasury yields. The weakening of the dollar and falling bond yields increased the appeal of non-interest-bearing gold for investors.

Investors focused on the US Federal Reserve's interest rate decision to be announced this week. While expectations that interest rates will be kept steady stand out in the market, potential interest rate hike signals regarding the final meeting of the year are being closely monitored. Analysts evaluate that the course of oil prices, movements in the dollar index, and messages from the Fed will determine the short-term direction of gold.