Following the records broken in gold prices this month, the Central Bank’s 100 basis point reduction in interest rates started a downward trend in the market. Gram gold, which rose to 6 thousand 100 TL, closed the week at 5 thousand 953 TL in the Grand Bazaar. In the Borsa Istanbul Precious Metals and Precious Stones Market (KMKTP), the kilogram price of standard gold dropped to 5 million 850 thousand liras at the end of the last trading day of the week. While a new upward trend in gold prices is expected with the FED’s interest rate decision to be announced next week, economists emphasize that the global decline in gold is temporary. Here are the gold and foreign currency prices on Saturday, October 24…
GRAM GOLD PURCHASE PRICE: 5841.38 TL
GRAM GOLD SALE PRICE: 5953.41 TL
LATEST SITUATION IN THE MARKET | SATURDAY, OCTOBER 25
◼US Dollar: 41.92 (Buy) – 41.94 (Sell)
◼EURO: 48.74 (Buy) – 48.85 (Sell)
◼STERLING: 55.76 (Buy) – 56.04 (Sell)
FED INTEREST EXPECTATION
The next MPC meeting of the US Federal Reserve will be held on October 28-29. The interest rate decision will be announced by Fed Chairman Jerome Powell at 21:00 on October 29. The US Federal Reserve (Fed) reduced the policy rate by 25 basis points in September to the range of 4-4.25 percent, in line with expectations. According to the minutes, almost all officials supported reducing the policy rate by 25 basis points at the September meeting. Most officials considered it appropriate to further relax the policy for the remainder of this year.
GOLD BUYING AND SELLING PRICES IN THE GRAND BAZAAR
The kilogram price of standard gold, which had a minimum of 5 million 810 thousand liras and a maximum of 5 million 855 thousand liras in the gold market, decreased by 1 percent on the last trading day of the week to 5 million 850 thousand liras. The price per kilogram of standard gold ended Thursday, October 24 at 5 million 910 thousand liras.
▶Buying Gram Gold: 5841.38₺
▶Gram Gold Sales: 5953.41₺
▶Buying Quarter Gold: 9569.00₺
▶Quarter Gold Sale:9710.00₺
▶Buying Half Gold: 19139.00₺
▶Half Gold Sale: 19408.00₺
▶Buying Full Gold: 38160.00₺
▶Full Gold Sale: 38661.00₺
▶Buying Ata Gold: 38661.00₺
▶Ata Gold Sales: 39729.0000₺
▶Buying a 22 Carat Bracelet: 5340.3600₺
▶22 Carat Bracelet Sales: 5618.8200₺
▶Buying Silver: 65.8740₺
▶Silver Sales: 70.4770₺
NOTE: Latest information on gold and exchange rate 25 October Saturday day 06.22 am taken as of .