15.05.2025 09:00
Yesterday, the gram gold price fell to 3967 lira, reaching its lowest level since April 11, experiencing a waterfall decline. The gram gold, which has lost value again, dropped to 3912 TL as of 08:30 this morning.
The mutual reduction of customs tariffs between the USA and China in global trade wars has decreased the demand for safe havens due to the possibility of a ceasefire between Russia and Ukraine.
PEACE TALKS PULLED DOWN GOLD
The high customs tariffs announced by US President Donald Trump in April were reshaped as a result of negotiations that began with China. With the agreement of the parties, the tariffs imposed by the USA on China were reduced from 145% to 30%, while the tariffs imposed by China on the USA were reduced from 125% to 10%. It was reported that this temporary arrangement would be valid for 90 days.
Trump's statements that a permanent agreement could be reached at the end of 90 days were perceived by the markets as an optimistic step. This situation led to a decrease in the demand for gold as a safe haven due to the reduction of geopolitical risks.
HERE ARE THE CURRENT GOLD PRICES
In light of the latest developments, the ounce gold is trading at $3140, down 1.1% after a decline to $3135. The gram gold, which fell to 3909 TL, has decreased to 3912 TL as of 08:30 this morning.