Gram gold breaks new record

Hot times are being experienced in Türkiye, with investors following the gold market with curiosity.

Ahead of the interest rate decision to be announced by the US Federal Reserve (Fed) on July 30, the dollar weakened while gold rose.

Gram gold, which closed last week at 4,352,395 liras, saw 4,388 liras as of 15:20.

An ounce of gold, which closed last week at $3,350, rose to $3,379 at the same time.

According to CNBC-e, KCM Trade Chief Market Analyst Tim Waterer commented on the development:

The dollar had a slow start to the week, which opened the door for gold to rally early. With tariff deadlines approaching, gold is likely to make a move back toward $3,400.

Source: CNBC-e