28.01.2025 11:32
The price of gold per gram is trading at 3,150 lira after starting the day flat. Markets are being closely monitored ahead of the U.S. Federal Reserve's interest rate decision tomorrow. A quarter gold coin is being sold for 5,170 lira, while a Republic gold coin is priced at 20,600 lira.
The gram of gold is trading at 3,150 lira after starting the day flat. Yesterday, the gram price of gold, which lost value in parallel with the decline in the ounce price, ended the day with a decrease of 0.9% compared to the previous closing, at 3,150 lira.
The gram price of gold is at the level of 3,150 lira as of 09:40, in line with the previous closing after starting the day with a flat trend. At the same time, a quarter of gold is being sold for 5,170 lira, and the Republic gold is being sold for 20,600 lira.
The ounce price of gold is also trading just below the previous closing at 2,740 dollars.
EYES ON THE AMERICAN CENTRAL BANK
While the interest rate decision to be announced by the U.S. Federal Reserve (Fed) tomorrow is in the focus of investors, asset prices are showing a mixed trend before the decision. In the statements to be made by Fed Chairman Jerome Powell after the decision, clues regarding the Bank's projections will also be in the focus of investors. Analysts noted that concerns about a potential mismatch between U.S. President Donald Trump's statements advocating for interest rate cuts and the policies the Fed will implement in the upcoming period could also affect the direction of the markets.
FED IS EXPECTED TO KEEP INTEREST RATES UNCHANGED
In the pricing of the money markets, it is almost certain that the Fed will keep the policy interest rate unchanged at tomorrow's first monetary policy meeting of the year, while the Bank is expected to make its first interest rate cut of the year in May with a 59% probability.
On the other hand, Scott Bessent, an investor and hedge fund manager nominated by Trump, has been confirmed by the Senate as the Treasury Secretary. The nomination of investor and hedge fund manager Bessent to the Treasury Secretary position has been positively interpreted for the country's economy and markets. Analysts stated that today, domestic sectoral inflation expectations and abroad, durable goods orders in the U.S. and the New York Fed consumer confidence index will be monitored, noting that technically, the support level for the ounce price of gold is at 2,720 dollars, and the resistance level is at 2,760 dollars.