SHAFAQNA TURKEY – The price of a gram of gold, which rose yesterday in line with the price of an ounce, ended the day at 1.171 lira, up 0.31 percent.
The price per gram of gold is trading at 1166 lira, down 0.43% from the previous close at 10:50 am after the new day started off lower. At the same time, a quarter of gold is sold for 1910 lire, and republican gold for 7750 lire.
What was the price of an ounce of gold?
The price of an ounce of gold rose 0.35 percent yesterday to close at $1,938 and is currently trading at $1,928.
Analysts said fears of an ongoing recession around the world weighed on risk appetite and said Purchasing Managers’ Index (PMI) data released yesterday in the US indicated a contraction, remaining below the 50 level, even though that he exceeded expectations.
The difference between the three-month Treasury bill and the US 10-year bond rate has reached 125 basis points, indicating growing recession fears in the country.
Saying that the Ifo Business Confidence Index to be announced today in Germany will be monitored, analysts said $1920 is technically in support, $1950 and $1970 resistance in the price of an ounce of gold.
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