Gold Prices on the Rise: Current Data and Expectations

Current Status of Gold Prices

The gram price of gold had closed at 5,389.4 TL with a horizontal level in previous transactions. Starting the new day with an increase, gold is trading at 5,418 TL, which is 0.6% above the previous closing value as of 09:15.

Prices of Quarter and Republic Gold

Today, quarter gold is being sold at 9,164 TL and republican gold is at 36,512 TL. These price increases are being closely monitored by investors.

Increase in Gold's Ounce Price

The ounce price of gold is trading at 3,994 USD, reflecting a 0.3% increase. This rise is closely linked to the unveiling of weaknesses in the labor market through the private sector employment reports in the U.S. and the strengthening expectations for interest rate cuts in the U.S.

Safe Haven Search

Additionally, the ongoing shutdown of the federal government in the U.S. is increasing investors' search for safe havens, positively affecting gold demand. This situation may present significant opportunities for investors looking to protect themselves from market uncertainties.

Market Expectations and Technical Analysis

Analysts emphasize that today the CBRT inflation report, along with the treasury cash balance, will be monitored domestically, while abroad, the foreign trade balance in Germany and the Michigan University consumer confidence index in the U.S. will be tracked.

Due to the federal government shutdown in the U.S., the flow of official data is expected to remain limited. From a technical perspective, the support at 3,750 USD and the resistance at 4,250 USD are significant levels for the ounce price of gold. Breaking these levels could trigger new price movements.