20.06.2025 10:20
The message that the Fed will not rush to cut interest rates, along with the strengthening dollar, caused gold to drop to $3,340 per ounce. While gram gold is being sold at 4,267 TL, gold has lost more than 2% in value on a weekly basis.
The Fed's failure to signal an interest rate cut before the summer and the appreciation of the dollar continue to put pressure on gold prices. This morning, in global markets, spot gold is trading at around $3,345 after testing $3,340. Gram gold is priced at 4,267 TL, quarter gold at 7,050 TL, and republic gold at 28,110 TL.
LOST 2 PERCENT
Gold prices have lost more than 2 percent since the beginning of the week, while still showing a 2 percent increase since the beginning of the month. Since the beginning of the year, spot gold has provided a return of 28 percent to its investors, and has shown an increase of over 44 percent in the last year.
TRUMP'S "RETURN TO THE TABLE" MESSAGE
U.S. President Donald Trump stated that they will not directly intervene in Iran, while announcing that they will decide on the U.S. role in the conflicts that began with Israel's attacks within the next two weeks. Trump also reiterated his pressure for Iran to return to the negotiation table. These statements continue to be one of the key factors shaping the perception of geopolitical risk in the markets.
EYES ON DATA AGENDA
Analysts indicate that today, the housing price index and consumer confidence index will be closely monitored in the domestic market, while in the U.S., the Philadelphia Fed manufacturing index and Eurozone consumer confidence index data will also be watched. From a technical perspective, it is noted that $3,300 serves as a support level for spot gold, while $3,360 is seen as a resistance level.