Last-minute progress in gold prices, dates have been given for a new record. After the latest developments, investors asked, “What are the full, half, quarterly, and gram prices for gold on March 23, 2022?” I started looking for the answer. Gold investors continue to track the effects of the war between Russia and Ukraine. US National Security Adviser Jake Sullivan has announced that US President Joe Biden will announce new sanctions against Russia during his visit to Europe. Economic sanctions on Russia have the greatest impact on oil prices in commodities.
Fed’s explanation of rising interest rates
Meanwhile, Fed Chair Jerome Powell said in a recent statement at a meeting in May that the Fed could raise interest rates by 50 basis points despite inflation.
After Powell, hawkish messages continue to come from Fed officials. st. Federal Reserve Bank of Cleveland Governor James Bullard said the Federal Reserve should go for a faster rate hike, and Cleveland Fed Governor Loretta Mester should value a 50 basis point rate hike. She said she was in favor of raising interest rates to about 2.5 percent. The end of the year.
“FED” pricing under ONS
While rising global inflation has led investors to safe haven, the FRB’s message on interest rate hikes is putting downward pressure on gold prices. An ounce of gold, which started at $ 1935 the other day, retreated to $ 1910 and closed at $ 1921.
An ounce of gold, which opened at $ 1921 today, is trading at $ 1918 and has fallen slightly in the last few minutes. Under the ounce, a low of $ 1915 and a high of $ 1924 were seen during the day.
Analysts say spot gold prices could be retried with the support of $ 1,900 / ounce in the first place if there are developments to reduce the search for safe shelters and the Fed continues to show signs of aggressive tightening. It states that it has sex.
Gold Going Lightweight Gram
In the domestic market, gram gold prices have been on a downtrend in the last two days of trading. Gram Gold, which started the day before at 922 Lira, was reduced to 911 Lira and then closed at 914 Lira.
Starting today at 915 lira, Gram Gold is trading at 913 lira and will decline slightly in the next few minutes. During the day, the lowest level of 910 lira and the highest level of 916 lira were seen in less than grams.
CBRT interest rate determination forecast from ISLAM MEM0054Ş
Gold and money market specialist Islam Memish said the market opened quieter than last week: “Forex, commodities and gram-based price increases continue to be a bit more restricted. They followed the speeches of the leaders of the central banks of the United States and Europe. Again, they talked about raising interest rates and said they had great expectations for the fight against inflation. The Federal Reserve Board predicts that it will continue to raise rates by 50 basis points at its May meeting. Looking at the Central Bank of the Republic of Turkey (CBRT), interest rates are likely to rise this year. ” rice field.
“The dollar can go down under 14 lira”
“Therefore, we do not expect the dollar price to rise permanently,” said Islamic Memish. “Last month, the 13.80 lira was on the red line. Numbers above 14.80 are under test, I don’t think these numbers will be permanent in the medium term. There may be slack again below the 14 lira level, as the possibility of a CBRT rate hike is increasing day by day.
Expectations for a new record for gold prices
Islam Memish emphasized that new records could be set for ounce gold and gram gold prices during the year, saying: Gram Gold / TL prices remain in the range of 900-920 lira. Meanwhile, upward movement under an ounce continues to be restricted. I’m waiting for a pull back to the $ 1880 level again under an ounce. I follow the range of 850-900 bands at gram gold prices. I can say that I’m not very keen on buying grams of gold above these levels. I think it’s a better opportunity to buy gradually for slack of 900 lira or less. We expect new records in both ounces and grams each year. “
How much was the gold price?
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