SHAFAQNA TURKEY – On Friday, the price of a gram of gold, which lost in value in parallel with the price of an ounce of gold, closed the day at 1,248 lira, down 1.62 percent.
The price per gram of gold is trading at 1,254 lira, up 0.48 percent as of 10:50 a.m. after starting a new week with a rise. At the same time, a quarter of gold is sold at 2060 lire, and republican gold at 8340 lire.
On Friday, the price of an ounce of gold fell 1.78 percent to close at $2,044 and is currently trading at $2,013, up 0.45 percent from the previous close.
The price of an ounce of gold is suppressed
Analysts said Friday’s statements by US Federal Reserve officials (Fed) that monetary policy may need to stay tight longer than markets expect put pressure on the price of an ounce of gold.
Analysts note that the likelihood of a 25 basis point Fed rate hike at the next meeting is over 80 percent in money market pricing, and that a similar move is predicted to be 21 percent likely in June.
Analysts said that today in the US they will follow the New York Fed manufacturing index data, and technically $1990 is in the support position, and $2040 is in the price of an ounce of gold.
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