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Global markets focused on the US inflation data to be announced on Friday and the European Central Bank (ECB) meeting to be held on Thursday this week, after the US workforce statistics announced last week exceeded expectations. Gram gold price rose as the dollar/TL rate started the new week with a record. For the ounce gold price, forecasts came one after another from the analysts. Macroeconomics Specialist Prof. Dr. Volkan Öngel said, “With the psychological limit of 1000 TL/gram being exceeded, new records may come.”

At the beginning of 2020, the date when the Kovid-19 pandemic spread to the world, gold, which was around 300 TL per gram, caught an upward trend depending on the demand in the international financial-commodity markets. Gold prices, which experienced a slight decrease in the last days of April, started to rise again as of the second half of May.

“IT IS POSSIBLE TO EXCEED 1000 TL/GRAM LEVELS”

Stating that gold is always seen as a safe harbor and continues to maintain its popularity as a classic investment tool, Professor of Macroeconomics from Beykent University. Dr. Volkan Öngel said, “Even if the gram side of gold, which started at 982 TL in the second week of June, followed a horizontal course in the ounce gold price, when evaluated together with the basis from the foreign currency side, it seems to be high and it seems possible to exceed 1000 TL/gram levels by the end of the week.”

Öngel said, “With the psychological limit of 1000 TL/gram exceeding, new records are not far away,” Öngel said.

 

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