Gold prices continue to decline. Although central banks use the interest rate instrument to prevent the rapid increase in global inflation rates, it is not very effective. With interest rate hikes gold prices continue to decline.
US Federal Reserve FedWhile the possibility of raising interest rates in the meeting to be held on September 21, 2022, investors started to prefer to stay liquid.
Those who want to invest their money in deposits exit from gold. Gold prices are also trading at a 2-month low.
ONS GOLD REDUCE TO $1661
The rapid decline in ounce gold prices continues. An ounce of gold started the day at 1664 dollars. During the day, the lowest level was $ 1661 and the highest level was $ 1667. Currently, an ounce of gold is priced at $1663.
LOSSES UNDER GRAMS ACCELERATE
grams of gold prices also accelerated. Parallel to the decline in ounce gold, gram gold prices also started to suffer. Gram gold started the day at 978 liras. During the day, the lowest level was 975.4 lira and the highest was 979.7 lira. It is currently priced at 976.6 liras.
ANALYSTS FOCUS ON FED DECISIONS
While analysts said that the movement of gold will determine the direction according to the decision to be made at the Fed’s meeting, it was stated that if the Fed raises interest rates above expectations, the range of $1648-1644 per ounce can be tested.