Gram gold prices are at the level of 420 lira in the following minutes; The ounce price of gold is traded at $ 1845. While Özsoy, the Founding Partner of Financial Advisory, evaluates the critical agenda items that may affect gold prices to Bigpara; It also indicated the technical levels to be followed.
Gram gold price yesterday, while moving the closing time of 418 pounds at Turkey market; He started the new day from a horizontal level. The gram price of gold saw the lowest 416.38 lira level during the day and the highest level of 420.41 lira. The gram price of gold rose by 0.69 percent as of 10.21 hours, moving at the level of 420.03 pounds. In the same minutes, quarter gold is sold for 689 liras and Republic gold is sold for 2 thousand 835 liras.
CLICK FOR INSTANT SITUATION IN GOLD PRICES …
While the ounce price of gold saw the highest level of 1846 dollars during the day and the lowest level of 1834 dollars; In these minutes, it was traded at $ 1845 with an increase of 0.55 percent.
GOLD’S EYE WILL BE ON THESE DATA
Murat Özsoy – Founding Partner of Biz Financial Consulting
Starting the week we are in, the ounce of gold, which started with movements in the range of 1813-1815 dollars as of Monday morning, welcomed us with the price of 1842 dollars on today’s morning, when we arrived in the middle of the week. In fact, yesterday, one of the critical thresholds we have been talking about for a long time, the 1830 dollar level, which was exceeded, was very fast. In this comment, we have shared the critical levels below. The important effect of this price increase was the regression of the dollar index from 91 levels to 90.3 levels in the same period.
Today, it stands out as the most important and critical day of the week in terms of global macroeconomic data agenda. During the day we will listen to the speeches of the Presidents of the European Central Bank (ECB) and the American Central Bank (Fed), as well as the presidents of Canada and the Bank of England, inflation and budget figures will also come from the USA. In addition, news streams regarding the approval of the incentive package may be on the agenda.
In particular, data from the US may cause the movement of the dollar index to accelerate strongly upwards or downwards. If it comes back further from the 90.3 levels, we expect it to exceed the level of $ 1842 an ounce of gold. The critical resistance levels that are important to follow that we see in the following are $ 1867 and $ 1872.
We still maintain our view that the trend will turn up in the medium term below the ounce. The reverse correlation of the dollar index with the bottom ounce suppressed the ounce gold prices in the past days. However, as long as the low interest environment and abundant liquidity continues, ounce of gold will continue to be on the agenda. In addition, if the incentive package from the USA is approved, this will support the ounce gold prices upwards.
Within the framework of the upward trend we expect under the ounce and possible increases in the dollar / TL exchange rate (especially as of March, our expectations are relatively stronger in this regard), we are still keeping 485 TL on the agenda as a distant target in the medium term. The 434 TL level at the end of January seems to be the first resistance level in the short term. We estimate that daily closings above 422 TL will strengthen the direction towards 434 TL. We think that the current levels may still be good opportunities for gram gold purchases.
Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.
*The article has been translated based on the content of bigpara- GÜNDEM by bigpara.hurriyet.com.tr. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!