The gram price of gold is on the rise… At the end of the day, when the gram gold price started with an increase on 23 December, it met with its buyers at 1080 liras. Investors trading gold are wondering where gold prices will go. In this case, the opinions of analysts gain importance. Many analysts predicted a new record in gold prices. Saying that 1,090 lira is a critical threshold for the price of gold, analysts pointed out that new peaks can be seen in gold if it remains above 1,100 lira. Here are the details of the news…
At the same time on December 22, the ounce price decreased by 1.2%, and the gram price of gold closed the day at 1,075 liras. On the last day of the week, it was traded at 1080 lira. At similar times, quarter gold was sold for 1,770 liras, and republican gold for 7,180 liras. Gold, on the other hand, was traded at $1,798 per ounce on December 23, the last day of the week, after closing the day at $1,792 with a 1.2 percent decline on December 22.
DATA IN THE UNITED STATES OF AMERICA
Analysts pointed out that data showing strong US economic growth increased their concerns about the continued tight monetary policy. The third quarter growth data, which was 2.9% in the first estimates, was renewed as 3.2%. According to analysts, data such as the University of Michigan confidence index, personal income and expenses, household sales and durable goods orders are among the things to watch. It is also reported that $1800 is the support on an ounce basis and the 1830-1850 line is the resistance.
New Year’s Recession in Markets
Analysts noted that due to the New Year’s holiday that started on December 23, the trading volumes in the market may decrease and the UK markets were open for half a day due to the Christmas holiday.
On the dollar/TL side, it was seen that companies that went up to less than an ounce together brought gold to 1091 per gram. Analysts said that the region is presented as a key resistance area in their gold-gram assessments. It is said that a close above 1090 could push gold prices above 1100.