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Sharp fall in gold prices! Here’s why below consider

Sharp fall in gold prices! Here’s why below consider
Sharp fall in gold prices! Here’s why below consider

The expectation that the Fed will continue with its overly aggressive hawkish monetary policy to combat inflation put pressure on stocks in the markets, while US Treasury bond yields and the dollar index increased. With these developments, the dollar index rose to 112,071, the highest level it had seen since May 2002, and reached 112. The rise of these assets, on the other hand, affected precious metal performance. An ounce of gold fell to $ 1653.


Gold prices, strengthened by Putin’s call for partial mobilization, increased interest rates from the Fed and The extremely aggressive hawk continues to decline with the message of continuation of its monetary policy.

On the gram gold side, the loss exceeding 10 TL today was a lie. Starting the day from 988 TL, the yellow metal decreased to 973 TL.

According to analysts, gold will continue its movements between 1.660/1,680 on the ounce side due to the strong dollar. If the precious metals picture continues and below $1,660 is broken, the decline may deepen with the selling pressure. However, above the $1690 level, there is resistance at $1705.

On the gram side, 1.008 TL is seen as resistance on the rises, and 968 TL and 953.50 TL form support in the retracements at prices below the 980.25 level.


Quarter gold: 1648 TL
Republic gold: 6575 TL
Half gold: 3296 TL


Fuat Oner – News Chief

The article is in Turkish

Tags: Sharp fall gold prices Heres

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