In the money markets, gold and foreign exchange investors are focused on new records.

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Global markets focused on gold prices. After a rapid rise, gold locked investors to their screens as it began to decline.

Gold, which accelerated its downward trend after the US presidential elections, did not show a rising movement despite the Fed lowering interest rates by another notch.

GRAM GOLD

Gram gold started the day at 2967 lira. During the day, the lowest level seen was 2944 lira, and the highest was 2968 lira. Currently, it is trading at 2950 lira.

ONS GOLD

Ons gold started the day at 2684 dollars. During the day, the lowest level seen was 2666 dollars, and the highest was 2686 dollars. Currently, it is trading at 2671 dollars.

GRAM GOLD IN GRAND BAZAAR

In the Grand Bazaar, gram gold is being bought at 3034 lira and sold at 3069 lira.

GLOBAL MARKETS' DIRECTION IS MIXED

Global markets started the week with a mixed trend, as they will be following a busy macroeconomic data agenda, including inflation in the US and a speech by US Federal Reserve (Fed) Chairman Jerome Powell.

Uncertainties regarding the economic policies that Donald Trump, elected as president in the US, will pursue in the new term and statements suggesting he would increase import tariffs before being elected are complicating pricing in the markets.

WILL THE FED CUT INTEREST RATES AGAIN?

Optimism regarding the US economy's potential for a "soft landing" continues.

Analysts noted that the Consumer Price Index (CPI) data to be announced on Wednesday and Fed Chairman Powell's speech on Thursday have become the focus of investors, stating that signals from these could provide clues about the steps the Fed will take in the upcoming period.

Last week, the Fed lowered the policy interest rate by 25 basis points to a range of 4.50-4.75%, emphasizing that they will continue to make data-driven decisions.

Following these developments, pricing in the money markets indicates a 65% probability that the Bank will make another 25 basis point interest rate cut at its last meeting of 2024.

DOLLAR SET A RECORD AFTER A LONG TIME

After the election results, the dollar index rose to 105.44, reaching its highest level since July 2024, and started the new week with a limited pullback at 105.1.

After the US 10-year Treasury yield approached 4.48%, testing its highest level in the last 4 months, it ended the week at 4.31%, down 6 basis points. Meanwhile, today the US bond markets will be closed for trading.

The price of gold per ounce finished last week down 1.8% at 2,686 dollars, while in the first trading day of the new week, it is trading at 2,670 dollars, 0.6% below the previous close.

The price of Brent crude oil is also at 73.5 dollars, down 0.4% in the new week.

TRUMP BOOSTS CRYPTOCURRENCIES

After Trump's presidency was confirmed, there was a noticeable upward movement in relatively risky assets like the cryptocurrency market, with Bitcoin continuing its upward trend, recently stabilizing at 81,100 dollars after setting a record at 81,846 dollars.

On the corporate side, shares of Tesla, the electric car company of Trump's biggest supporter Elon Musk, increased by 29%, pushing the company's market value above 1 trillion dollars.

On Friday, the S&P 500 index in the New York Stock Exchange rose by 0.38% to 5,995.54 points, the Nasdaq index gained 0.09% to 19,286.78 points, and the Dow Jones index increased by 0.59% to 43,988.99 points, achieving its highest closing ever. US index futures started the week on a positive note.

TRUMP FEARS IN EUROPE

European stock markets showed a negative trend last week, except for Germany, while news flow from the US is expected to have an impact on asset prices.

Concerns that Trump's victory could negatively affect Europe's exports to the US have led to selling pressure in the markets, particularly resulting in losses in shares of German automotive companies.

With these developments, the FTSE 100 index in the UK lost 0.84%, the CAC 40 index in France fell by 1.17%, the MIB 30 index in Italy decreased by 0.48%, and the DAX 40 index in Germany also lost 0.48%.

WILL THE ECONOMIC WAR ESCALATE AGAIN?

On the Asian side, concerns that China will face higher tariff threats during Donald Trump's second presidential term are dampening risk appetite in the markets.

Although the Chinese government announced a package worth approximately 1.4 trillion dollars to support the economy, the lack of sufficient details about the package has caused investors to remain cautious.

According to the data released in the region, Japan's current account balance showed a surplus of 1.7 trillion yen in September, but it did not meet expectations.

With these developments, the Nikkei 225 index remained flat near the close, while the Kospi index in South Korea fell by 0.9% and the Hang Seng index in Hong Kong decreased by 1.7%. The Shanghai Composite Index in China, however, rose by 0.2%.