SHAFAQNA TÜRKİYE- The movement of gold prices in ounces has begun to change the balances in the markets. An ounce of Gold Gram, which began to approach $2,000, also created momentum for gold. Along with ounce gold trading at its 9-month high, gram gold also rose to 1,165 lira.
Possible scenarios for changes in the Fed’s gold price
The main reason for the strength of gold is the expectation of a decrease in the inflationary trend in the US and a slowdown in the pace of Fed interest rate hikes and interest rate cuts in 2023.
Prices per ounce of gold rose to the level of 1929 dollars. This increase also had a positive impact on the prices per gram of gold. Starting the day at 1159 lira, a gram of gold rose to 1165 lira with purchases throughout the day.
Experts point to 1933 dollars
As the first resistance under the ounce, the 1933 dollar comes to the fore. Experts who stated that the levels of the dollar in 1942-1956 can be seen, respectively, with the excess of this level, singled out the levels of the dollar in 1919 and 1897 as support.
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