30.04.2025 09:51
Last week, gold reached a historic peak in global markets amid the uncertainty fueled by trade wars. However, by this week, there has been a remarkable decline of up to 5% in gold prices. Today, the gram gold, which has partially moved, is being traded at 4,092 TL.
The new customs tariffs announced by U.S. President Donald Trump, particularly against China and many other countries, have raised concerns about a potential trade war worldwide. The increasing risk perception in global markets has directed investors towards gold, which is seen as a "safe haven."
POWELL'S MESSAGES HAVE BROUGHT GOLD TO A RECORD HIGH
In this uncertain environment, the messages given by Federal Reserve (Fed) Chairman Jerome Powell regarding the economic outlook and interest rate policies, along with Trump's statement about potentially dismissing Powell, have pushed the price of gold per ounce above $3,500. This figure has been recorded as a new record in the history of gold.
SHARP CORRECTION AFTER THE RISE
However, profit-taking in the following days of the week increased volatility in the markets. Following these developments, gold prices showed a decline of up to 5%. As the new trading day began, although prices showed slight signs of recovery, investors remained cautious. The price of gold per ounce fell below $3,270, with the decline reaching 5%. Today, gold, which is on a recovery trend, has risen to $3,328, while as of 08:00, it is being bought at $3,308.
GRAM GOLD PRICES
The gram of gold also started the week with a loss, dropping below 4,070 TL. On Wednesday, the gram price of gold rose to 4,125 TL, while as of 08:00, it is being bought at 4,092 TL.
GRAND BAZAAR GOLD PRICES
In the Grand Bazaar, a quarter gold is sold for 6,783 TL, while a half gold is at 13,565 TL, and a full gold is being bought at 27,026 TL.