03.02.2025 16:31
Following U.S. President Donald Trump's official move to initiate global trade wars, the dollar has surpassed 36 lira for the first time. After the rise in gold prices, the gram of gold increased by 1.25%, reaching 3,251 Turkish Liras and setting a new record.
The first reaction of gold in global trade tensions was negative, but as the hours progressed, it approached record levels again. Starting the day with a 1% decrease, gold turned positive towards the evening. Gold rose to $2,809 with a 0.36% increase. Before the customs duties that will come into effect on February 4, the Dollar index rose above the 109 level.
GRAM GOLD ROSE TO 3,251 LIRA
In the pricing of gold per gram, the effects of both the rise in gold and the Dollar/TL were felt. Due to global developments, the Dollar/TL saw an increase of nearly 1% and reached 36. Gram gold gained 1.25% in value, rising to 3,251 Turkish Liras and setting a new record.
TRUMP IGNITED THE FUSE OF WAR
U.S. President Donald Trump ignited the fuse of the trade war. The U.S. began to impose a 25% customs duty on Mexico and Canada, and a 10% duty on China. Canada and Mexico took action against Trump's customs duties. China announced that it would appeal Trump's tariffs to the World Trade Organization.