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How much was the gold price? (05.05.2022)

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The gram price of gold, which gained value in parallel with the rise in the ounce price yesterday, closed the day at 890.8 liras with an increase of 0.1 percent.

The gram price of gold, after starting the new day with an increase, is at 903.4 liras with an increase of 1.4 percent compared to the previous closing with the prestige of 10:45. In one-on-one minutes, quarter gold is sold for 1,482 liras, and Republic gold for 6,053 liras.

The ounce price of gold is currently trading at $1,894 with an increase of 0.7 percent compared to the previous closing.

Analysts noted that although the US Federal Reserve (Fed) increased the policy rate by 50 basis points, the demand for gold increased as the hawkish tone, which became aggressive before the meeting, was abandoned in the decision text and Fed Leader Jerome Powell’s statements.

Analysts, who mentioned that today, in addition to the Bank of England’s (BoE) interest rate decision, the services sector Purchasing Managers Index (PMI) in the UK and the weekly unemployment claims data in the USA will be followed, technically, the gold ounce price will be followed. He said $1,870 is in reinforcements and $1,910 is in the resistance position.

On the other hand, according to the domestic data released today, the Consumer Price Index (CPI) in April exceeded expectations with a monthly increase of 7.25 percent and an annual increase of 69.97 percent.

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