The gram price of gold started to rise.

The gram price of gold is trading at 2,551 lira after starting the week with an increase. The gram price of gold, which lost value parallel to the decrease in the price of gold on Friday, completed the day at 2,550 lira, 1.92% below the previous closing. The gram price of gold, which started the new week with an increase, is currently at 2,551 lira, an increase of 0.1% compared to the previous closing at 10:30. At the same time, the quarter gold is sold at 4,250 lira, and the Republic gold is sold at 16,933 lira.

JOE BIDEN'S WITHDRAWAL FROM THE CANDIDACY CAUSED UNCERTAINTIES IN GLOBAL MARKETS

The ounce price of gold completed the day at 2,400 dollars, 1.82% below the previous closing, while it is currently trading at 2,404 dollars, an increase of 0.14% compared to the previous closing. The withdrawal of President Joe Biden from the candidacy in the US presidential elections has caused uncertainties in global markets. While central banks around the world are slowly approaching the end of their tight monetary policies in the fight against inflation, the possible outcomes of the US elections continue to make asset pricing difficult.

On the other hand, pricing for the future policies of the US Federal Reserve Bank (Fed) indicates that the Bank may cut interest rates three times by the end of the year. Analysts reported that despite the pricing indicating that the tight monetary policy will start to ease in the near future, the ounce price of gold has declined due to profit-taking.

Analysts stated that today, the Chicago Fed National Activity Index data and news flow regarding the presidential elections will be followed in the US, and from a technical perspective, the support level for the ounce price of gold is at 2,400 dollars, while the resistance level is at 2,450 dollars.