A gram of gold on this day will cost 2,000 lire.

The rise in prices per gram of gold continues as of the last minute. On the last day of the week, a gram of gold is trading at 1.610 lira. Will gold prices continue to rise? Will a gram of gold see 2 thousand TL? According to experts, if the growth of the dollar continues, it is stated that by the end of the year, gram gold can reach the level of 2 thousand Turkish liras. Here are the current gold prices on Friday, July 7th…

Gold prices showing a green and rising pointer on Friday, July 7, 2023

Gram gold, which made the previous close at 1.610.62 Turkish lira, is trading today at a bid price of 1.610.17 Turkish lira and an ask price of 1.604.45.

Republican gold, which made its previous close at 10,666.00 TL, is bought at 10,407.00 TL and sold at 10,676.00 TL.

The half gold that made its previous close at TL5,357.00 is bought at TL5,211.00 and sold at TL5,363.00.

Quarterly gold made its latest close at 2.676.00 TL. Finally, as of July 7, it was bought for 2,614 liras and sold for 2,681 liras.

After 15 months of tightening monetary policy, the Fed decided at its last meeting on June 14 to keep the discount rate unchanged in the range of 5.00-5.25%. The next Fed meeting will take place on July 25-26. In this context, economists note that the July meeting is even more important for the markets.

After the Fed meeting in July, there are three more meetings in September, November and December.

Following the Central Bank’s interest rate decision, gram gold, which topped 1,600 Turkish lira to reach 1,621 Turkish lira, fell in parallel with ounce gold after Powell’s announcement. A gram of gold is sold for 1593 Turkish Lira on the second day of the holiday. The price of a quarter of gold is 2,694 Turkish liras, the gold of the Republic is 10,933 Turkish liras, and the price of a gram of a 22 carat bracelet is 1,557 Turkish liras.

Nuri Koch, president of the Kocaeli Chamber of Jewelery, warned about gold and said, “If the dollar continues to rise, we can talk about 2,000 levels by the end of the year,” Koch said:

An ounce of gold during the pandemic was at the level of 1200-1400 dollars, and after 3-5 years it reached the level of 1900 dollars. Keeping an ounce of gold above $2,000 is difficult. Maximum 2 thousand 200, 2 thousand 300 dollars. Even if an ounce of gold doesn’t increase, gold could reach 1800 and 1900. If the dollar continues to rise, we can talk about 2000 gold levels towards the end of the year.