The kilogram worth of normal gold, which noticed the bottom 982 thousand liras and the best 1 million 12 thousand liras within the gold market, closed the day at 982 thousand liras, lowering by 2.6 p.c in comparison with the earlier closing.
In KMKTP, the overall transaction quantity realized beneath it was 3 billion 41 million 903 thousand 789.14 liras, and the transaction quantity was 3,144.65 kilograms.
The overall transaction quantity in all metals amounted to three billion 156 million 659 thousand 988.62 liras.
The establishments that carried out essentially the most transactions on the gold trade at present have been listed as Ahlatçı International Alternate and Valuable Metals, Istanbul Gold Refinery, Ahlatçı Steel Refinery, NMGlobal Valuable Metals, Uğuras Valuable Metals.
Listed here are the information for at present’s transactions:
FED EXPECTATIONS INCREASING
Whereas the likelihood that the Fed will improve rates of interest by 75 foundation factors at its November assembly elevated to 98 p.c, expectations for a 100 foundation level improve have been additionally included within the pricing. However, pricing for the Fed’s December assembly, which was anticipated to extend by 50 foundation factors, additionally targeted on 75 foundation factors.
Because the Fed raises rates of interest, the return on holding the greenback will increase, whereas the chance price of holding gold with none curiosity yields will increase. That is why buyers promote their gold and switch to the greenback and US bonds. Nevertheless, international geopolitical dangers help the protected haven function of gold.
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