03.02.2025 09:40
Precious metal gold reached a record high last week after the U.S. Federal Reserve decided to keep interest rates unchanged and the Donald Trump administration announced it would impose additional tariffs on China, Mexico, and Canada. This week, investors who believed that gold would continue to rise were caught off guard. Following a tense week, gold prices started this week on a downward trend.
Last week, the increasing global tensions benefited gold. However, the decision of the USA to restart trade wars supported gold prices while the dollar premium rose, putting pressure on gold. Prices in the precious metal began to decline.
TRADE WAR WILL BECOME OFFICIAL THIS WEEK
US President Donald Trump announced that he would meet with the leaders of Mexico and Canada, one day before the comprehensive tariffs on all goods imported from America's three largest trading partners, China, Mexico, and Canada, come into effect.
GOLD PER OUNCE
The gold per ounce started the day at $2801. During the day, the lowest level seen was $2772, and the highest was $2806. Currently, it is trading at $2783.
GRAM GOLD
The gram gold started the day at 3230 lira. During the day, the lowest level seen was 3199 lira, and the highest was 3238 lira. Currently, it is finding buyers at 3215 lira.
GOLD IN THE GRAND BAZAAR
In the Grand Bazaar, gram gold is being bought at 3180 lira and sold at 3223 lira.