Gram gold started the day with a decline

Gram gold is traded at 6 thousand 135 liras after starting the day with a decline. Gram gold, which followed a sales-oriented trend parallel to the decrease in the ounce price yesterday, completed the day at 6 thousand 153 liras, with a decrease of 1.85 percent compared to the previous closing. Gram gold, which started the new day with sellers, is traded at 6 thousand 135 lira as of 09.25, with a decrease of 0.3 percent compared to the previous closing.

At the same time, quarter gold is sold for 10 thousand 72 liras, and republic gold is sold for 40 thousand 134 liras. The ongoing tension between the USA and Iran in the Middle East continues to put pressure on the direction of gold. It was claimed that President Donald Trump was "seriously considering a large-scale attack" while the US attacks on Iran continued.

Iran also continued to target US bases in the region. Iranian media reported that the USA targeted the city of Ahvaz, close to the Iraqi border, with missiles and explosions were heard in areas near the Strait of Hormuz. While the risk of conflict in the Strait of Hormuz spreading to the Red Sea further increased existing concerns about oil supply, significant increases in oil prices continued to fuel inflation fears around the world.

With the ongoing tension in the Strait of Hormuz, which is critical for global energy supply, and the increased possibility of it spilling into the Red Sea, Brent oil rose 4.7 percent yesterday to $94.9 per barrel, reaching the highest level since June 11. While the rise in oil prices negatively affected the expectations regarding inflation and economic growth, it increased concerns about possible "hawkish" steps of central banks in the future in the current tightness. In the money markets, the possibility that the US Federal Reserve (Fed) may raise interest rates a total of 2 times by the end of the year has begun to be strongly priced.

Predictions that the bank will make an additional interest rate increase in December following the "hawkish" step it will take at one of its September or October meetings have increased to 78 percent. With these developments, the US 10-year bond interest is balanced at 4.71 percent on the new trading day, while the dollar index, which increased by 0.4 percent yesterday to 101.5, remains horizontal on the new trading day. The ounce price of gold dropped by 2 percent to $4,049 yesterday, due to the increasing expectations that the Fed may raise additional interest rates, the strong dollar and rising bond interest rates.

An ounce of gold finds buyers at $4,029, with a 0.5 percent decrease on the new day. Analysts stated that today, financial services confidence index and sectoral inflation expectations will be followed domestically, and an intensive data agenda will be followed abroad, especially PMI data from around the world.