Gram gold, which lost value yesterday in line with the fall in the price per ounce, closed the day at 6,000,666.5 lira, 0.6 percent below the previous closing price.
Gram gold, which started the day negatively, is trading at 6,000,660 lira at 9:40 a.m., 0.1 percent below its previous close. At the same time, quarter gold was sold for 11,250 lira and republic gold for 46,150 lira.
An ounce of gold is trading at $4,645, 0.1 percent below the previous closing price.
The extension of the war between the USA/Israel and Iran as well as the shrinking oil supply are increasing inflationary pressure and limiting the scope of central banks, particularly the US Federal Reserve (Fed), to ease monetary policy. This situation has a negative impact on the price of gold.
It is estimated that if energy prices continue to rise, discussions about interest rate increases could even come to the fore.
Investor interest in gold, seen as a safe haven against geopolitical risks and inflation, declines in a high interest rate environment because it does not provide interest income.
Analysts said they would be tracking data on domestic cash on hand, international services sector and composite Purchasing Managers' Index (PMI) across Europe as well as durable goods orders in the US today.
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