New record in gold
Gold prices hit a record high as markets expect the Fed to start easing monetary policy for the first time in more than four years.
After reaching a record high last week, gold continued to keep its direction upwards and broke a new record.
Spot gold rose to a record high of $ 2,585 per ounce on the first trading day of the week. According to the calculation made with ounce gold and USD/TL, gram gold rose to 2.823 TL.
Opinions are divided on the pace of the Fed’s future interest rate cut path, with some economists expecting a larger half-point cut. Analysts said that with the interest rate decision, the policy text and signals from Fed Chairman Jerome Powell’s speech on Wednesday are expected to be effective on the direction of the markets.
The precious metal has risen nearly 20 percent this year. Other factors supporting gold’s upward trend included increased purchases from central banks and Chinese consumers and conflicts in the Middle East and Ukraine.
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