Gold pricereached its highest level in more than a week at $ 1,818 after Fed Chairman Jerome Powell took a flexible tone on monetary policy and was supported by the weak dollar.
The price of a gram of gold trades at 498.8 lira. The gold quarter is sold at 817 lire and the Republic’s gold at 3,333 lire.
CURRENT GOLD PRICES
The lack of changes in Fed policy is supporting the price of gold. The Fed’s FOMC meeting, which ended yesterday, made no changes to its asset purchase program and indicated that it would continue to discuss this issue.
The fact that global demand for gold peaked in the past year in the second quarter also had an effect on the increase in the price of gold.
Experts point out that if the observed weakness in the US dollar continues, the upward movement in the spot gold price could continue up to the $ 1830-1840 range.
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