Strong US dollar in international markets gold keeps the price down. spot gold price, Dollar This morning, when the index went above the 108.25 level, it saw the level of 1744.63 dollars/ounce for the first time since 28 July.
Analysts emphasize that the uncertainty of whether the Fed will continue to increase the aggressive interest rates in its September meeting has caused the gold price to have difficulty in determining its direction.
Stating that it is important for spot gold to stay above $1744/ounce level, analysts think that if this level is broken, $1730/ounce levels can be tested.
GRAM GOLD APPROACHES THE CRITICAL LIMIT
In the upward movements, the first resistance is at the level of 1762 dollars / ounce. Spot gold is currently trading at 1745.23 dollars / ounce. grams of gold on the other hand, it approached the critical level and tested the 1015 TL level.
In the dollar analysis made by IKON Menkul, he used the following statements: “With the 100 basis point interest rate cut from the CBRT last week, the USDTRY parity crossed the 17.95 resistance line and rose towards the 18.10 region. At the moment we survived the Asian session, it continues to be priced in the 18.10 resistance zone. With this rise, prices started to trend upwards again above 8-day average.We will look at 8-days average again as moving average support and however, if it enters a horizontal process again at 18.10 line, we will watch 17.95 as new support area below.Supports: 17.95 – 17.77 – 17.55 Resistances: 18.10 – 18.25 – 18.50”
GOLD HAS TO RESPOND
In the gold analysis made by IKON Menkul, he used the following statements: The decreases in Ounce Gold, which closed the previous week below the 1752 level, reached the fifth business day. On the new day, he is having a hard time reacting in the Asian session as well. The uptrend in the dollar index and the US 10-year yield is weighing on the yellow metal. We will follow 1752 as intermediate resistance in the first place during the day.
In the continuation of possible declines, a tendency to touch the downtrend line from 2070 can be observed. Supports: 1734 – 1722 – 1712 Resistors: 1752 – 1770 – 1807″
.