Gram Gold Started the New Week with a Strong Opening

Gram Gold Prices Are Rising

On Friday, with the increase in the international market price of gold, gram gold gained value and closed the day at 6,941 lira, which is 3% higher than the previous closing. As the new week begins, gram gold has started even higher, trading at 7,040 lira with a %1.18 increase as of 12:28.

Prices of Other Gold Types

In parallel with gram gold, the price of quarter gold is 11,947 lira and the Republic gold is being sold for 47,845 lira. In the international market, the price of gold per ounce has increased by %1.20, reaching 5,024 dollars. A similar increase has been observed in silver, with the price of silver per ounce rising by %5.07 to 81.8 dollars.

Market Uncertainty and Its Effects

Last week, following the release of negative data related to the US labor market, assessments made by Federal Reserve (Fed) officials have had a significant impact on the markets, and forecasts that the Fed will continue its interest rate cuts have increased. San Francisco Fed President Mary Daly has indicated that in response to the observed weakness in the labor market, one or two interest rate cuts may be necessary in the upcoming period.

New Data and Expectations

Investors are focused on the inflation and non-farm payroll data to be released this week. If the non-farm payroll data falls below market expectations, further increases in the prices of precious metals may be anticipated. On the other hand, while the domestic data agenda appears calm, the Sentix investor confidence index to be announced in the Eurozone will be monitored abroad.