Gold prices are breaking records in decline after a long period of rising.

Gold prices are being closely monitored by investors. The current prices of gram gold and quarter gold are being researched.

Gold is preparing to experience its worst week in 3.5 years. The ounce of gold started the last trading day of the week at $2,566, the lowest level in two months.

The precious metal has lost over 4% in value weekly and more than 8% in November. It has shown its worst performance since June 2021 in the weekly period.

Gold has been under pressure from a strong US dollar and expectations of interest rate cuts from the Federal Reserve (Fed).

The prices of gram and quarter gold have moved in parallel with the performance of ounce gold.

Gram gold changed hands at 2,839 lira. Quarter gold was priced at 4,664 lira.

IS THE INTEREST RATE CUT DELAYED UNTIL SPRING?

Fed Chairman Jerome Powell signaled that there is no urgent need to lower interest rates, citing the strength of the economy, a solid labor market, and inflation.

Powell's statements indicated that the Fed would continue its cautious stance regarding interest rate cuts.

Expectations for a rate cut in December have decreased from around 80% to about 58%.

Additionally, policies to be implemented during a second Donald Trump term are expected to exert upward pressure on inflation. It is stated that this situation could limit the Fed's room for maneuver in its interest rate policy.