The Critical Threshold Is Approaching: What Are the Prices of Gram and Quarter Gold?
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With gram gold trading at 6,850 lira, it is only 2.2 percent away from the critical threshold of 7,000 lira. While the $18 billion investment in global gold funds in August is supporting prices, whether or not the 7,000 lira mark will be surpassed in Turkey will be determined by the price of gold per ounce and the dollar/TL exchange rate.
Gold Is Heading Towards 7,000 Turkish Lira per Gram! Here Are Two Critical Data Points for the Rise.
Economy - Gram gold held steady around 6,850 lira, coming 2.2% closer to its 7,000 lira target. The $18 billion inflow into global funds supported the ounce price, while investors focused on US inflation data and the direction of the dollar/TL exchange rate.
With gram gold trading around 6,850 lira, it is only 2.2% away from the psychological 7,000 lira mark. While the $18 billion that flowed into global gold funds in August supported the ounce price, whether the 7,000 lira threshold will be surpassed in Türkiye will be determined by the combined movement of ounce gold and the dollar/TL exchange rate.
Gold is trading around 6,850 lira per gram, just 2.2% away from the 7,000 lira mark. The $18 billion that flowed into global gold funds in August is supporting the price per ounce. However, for Turkish investors, the final say will lie with the dollar/TL exchange rate.
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