05.05.2025 09:10
Declaring 2025 as the year of records, gold started the first trading day of the week with movement after a two-week pullback and horizontal trend. As of this morning, the price of gold per ounce increased by 1% to $3,272, while the price of gold per gram greeted the market at 4,058 Turkish lira.
Due to economic uncertainties and geopolitical developments worldwide, fluctuations in gold prices continue. Global trade wars and President Trump's threat to dismiss Fed Chairman Powell have accelerated the shift towards the safe haven of gold. The price of gold per ounce had surpassed the $3,500 level, reaching a historic peak.
However, Trump's statement indicating that he would allow the Fed Chairman to complete his term and signs of easing tariffs on certain countries have led to profit-taking in the safe haven. As a result, prices, which declined for two consecutive weeks, fell to the $3,220 level. In domestic markets, the price of gold per gram had dropped below 4,000 TL but slightly increased, closing the week at around 4,020 TL.
GOLD OUNCE MOVED AGAIN
Gold ounce opened at $3,272 with a 1% increase on Monday morning, then sharply fell to $3,252. As of 09:00, the gold ounce is trading at $3,257.
GRAM IS TRADING AT 4,039 TL
The gram gold, which reached 4,058 TL in the morning hours, is trading at 4,039 TL as of 09:00. A quarter gold is finding buyers at 6,731 TL, while a full gold is trading at 26,805 TL. The Republic gold is trading at 26,869 TL. Experts indicate the upward resistance level for gold ounce prices as $3,345, while the downward level is marked at $3,245.