Gold prices have started to move again after a brief period of stagnation.

The gram of gold is being sold at 2,980 lira after starting the day with an increase. Yesterday, the gram price of gold, which lost value in parallel with the decline in the ounce price, completed the day with a decrease of 0.2% compared to the previous closing, at 2,973 lira.

The gram price of gold is currently at the level of 2,980 lira, with an increase of 0.2% compared to the previous closing as of 09:10.

LAST SITUATION IN QUARTER AND REPUBLIC GOLD

As of the same minutes, the quarter gold is being sold at 4,930 lira, and the republic gold at 19,650 lira. The ounce price of gold is currently trading at 2,646 dollars, with an increase of 0.1% compared to the previous closing.

MARKETS ARE WAITING FOR THE FED

In global markets, a mixed trend is emerging ahead of the monetary policy decisions to be made by the U.S. Federal Reserve (Fed) this evening. While it is almost certain that the Fed will cut the policy rate by 25 basis points today, signals from the policy text and Fed Chairman Jerome Powell's verbal guidance are expected to provide clues about future monetary policy.

INVESTORS FOCUSED ON DATA

Before these decisions, the U.S. 10-year bond yield is stabilizing at 3.4%, while the bond yields are hovering near the highest levels in the last 5 months, which is dampening the upward movement of gold prices.

Analysts noted that the Fed's monetary policy decisions this evening could increase volatility in the bond and commodity markets.

Today, domestic housing sales statistics and short-term external debt statistics will be followed, while abroad, in addition to the Fed's interest rate decision, inflation in the Eurozone and the UK, the U.S. current account balance, housing starts, and building permits will be monitored. Analysts stated that technically, the resistance level for the ounce price of gold is at 2,670 dollars, and the support level is at 2,630 dollars.