Gram gold is on the decline on June 11

Gram gold, the favorite of investors, started the day with a decline.The gram price of gold, which increased in parallel with the rise in ounce price yesterday, completed the day at 2 thousand 403 liras with an increase of 0.7 percent.

The gram price of gold is at 2 thousand 399 lira, 0.2 percent below its previous closing as of 10:00 after starting the day with a decline. As of the same minutes, quarter gold is sold at 3 thousand 960 liras and Republican gold is sold at 15 thousand 780 liras.

HOW MUCH IS OUNCE GOLD?

While the ounce price of gold increased by 0.7 percent yesterday, completing the day at $ 2,311, today it is trading at $ 2,301, down 0.4 percent compared to its previous close.

Analysts said that the search for direction in asset prices stands out ahead of the US Federal Reserve's (Fed) monetary policy decisions tomorrow and inflation data to be announced in the country.

In addition to the Fed's monetary policy decisions and President Jerome Powell's verbal guidance to be announced tomorrow, clues on the size and timing of possible interest rate cuts will be sought in the “dot plot” to be published by the Bank.

Stating that the Consumer Price Index to be announced tomorrow in the US and the Producer Price Index data to be announced on Thursday may also give signals regarding the Fed's future monetary policy, analysts stated that in the pricing in the money markets, the probability of the Fed's first interest rate cut in September is 55 percent and the probability of going in November is 83 percent.

Analysts stated that the data agenda is calm today, and noted that technically, 2 thousand 280 and 2 thousand 250 dollars are in the support, 2 thousand 320 and 2 thousand 340 dollars levels are in the resistance position in the ounce price of gold.