27.01.2025 12:20
The price of gold per gram started the week at 3,162 lira, marking a decline. A quarter gold coin is being sold for 5,180 lira, while a Republic gold coin is priced at 20,640 lira. Economic uncertainties and trade tariffs in the United States continue to affect gold prices.
The gram of gold is trading at 3,162 lira after starting the week with a decline. The gram price of gold, which gained value in parallel with the rise in the ounce price on Friday, had completed the day with a 0.8% increase compared to the previous closing, finishing at 3,180 lira.
The gram price of gold has started the new week with a decline and, as of 10:40, is at the level of 3,162 lira with a decrease of 0.6%. At the same time, the quarter gold is being sold at 5,180 lira, and the Republic gold at 20,640 lira. The ounce price of gold is also trading at 2,753 dollars, down 0.7% compared to the previous closing.
FED WILL KEEP INTEREST RATES STEADY
While uncertainties regarding the effects of Donald Trump's trade tariff statements, who has taken the presidential seat in the U.S., continue to influence asset prices, the steps taken by the new U.S. administration in foreign policy are also being closely monitored. Analysts express concerns that tariffs could trigger a global trade war and increase inflationary pressures, stating that the U.S. Federal Reserve, which is expected to keep interest rates steady at the monetary policy meeting scheduled for Wednesday, is anticipated to be more cautious regarding easing.
With these developments, the U.S. 10-year Treasury yield is at 4.59%, while the dollar index has started the week at 107.8, up 0.3%.
SELLING PRESSURE ON GOLD
Analysts noted that the strengthening dollar index, following Trump's announcement of imposing customs duties on Colombia, has increased selling pressure on the ounce price of gold. They reported that the data agenda domestically is calm for the rest of the day, while abroad, the Ifo business climate index in Germany, building permits, new home sales, and the Dallas Fed manufacturing index in the U.S. will be monitored. Technically, analysts indicated that the support level for the ounce price of gold is at 2,740 dollars, while the resistance level is at 2,780 dollars.