Investors beware… Gram gold price is in decline: How much is gram gold, quarter gold, Republic gold? Gold prices on April 16, 2024… – Last Minute Economy News

Gold prices, which fell from record levels on Friday following the tensions between Israel and Iran in the Middle East, are following an active course in the new week.

The gram price of gold, which gained value yesterday in parallel with the increase in the ounce price of gold, completed the day at 2 thousand 484 liras with an increase of 1.8 percent.

The gram price of gold is at the level of 2 thousand 473 liras as of 10.30, after starting the new day with a 0.4 percent loss in value. As of the same minutes, quarter gold is sold for 4 thousand 360 liras, and Republic gold is sold for 17 thousand 130 liras.

HOW MUCH WAS THE OUNCE OF GOLD?

The ounce price of gold, which rose 1.7 percent yesterday and broke the closing record at $2,383, is currently trading at $2,370, 0.6 percent below its previous close.

Analysts stated that volatility in asset prices has increased due to the ongoing tension in the Middle East and the strengthening of concerns that the US Federal Reserve (Fed) may keep the policy interest at higher levels for longer than expected, and stated that the intense data agenda has become the focus of investors with the statements of Fed Chairman Jerome Powell today. .

Analysts stated that concerns about potential retaliation by Israel following Iran’s attacks on Israel over the weekend caused the risk perception in the region to rise again, and stated that the macroeconomic data announced yesterday in the USA continued to feed inflation concerns and increased the selling pressure in bond markets.

Analysts stated that although rising bond interest rates increased the alternative cost of gold, developments in the Middle East led investors to act cautiously, and that this situation supported the ounce price of gold.

Analysts said that pricing in the money markets that the possibility of the Fed’s first interest rate cut has been postponed to September has gained strength.

Stating that today, in addition to the news flow from the Spring Meetings of the International Monetary Fund (IMF) and the World Bank, industrial production data in the USA will also be followed, analysts say that, technically, 2 thousand 350 and 2 thousand 330 dollars are support and 2 thousand 330 dollars in the ounce price of gold. He noted that the levels of 1,400 and 2,430 dollars are in resistance.