Gram gold tests new record

In global markets, gold approached the $2,000 limit on the last trading day of the week following the signals given by the Fed regarding monetary policy, while gram gold tested a new record level of 1,233 TL according to the calculation made on dollar/TL and ounce gold. After increasing by almost 3 percent in the previous two sessions, gold remained flat as investors evaluated the mixed signals regarding the Fed's monetary policy. After seeing $1,994 in the morning hours, ounce gold then retreated to $1,985. While a record attempt was made on the gram gold side at 1,233 TL, pricing stabilized below the 1,220 TL limit. The precious metal continues to see safe haven demand due to concerns stemming from the banking crisis. On the other hand, bond yields continued their decline for a third day, providing support for gold, which does not yield interest. In a statement made after the interest rate decision on Wednesday, Fed Chair Jerome Powell said that a pause in interest rate hikes was being considered due to the banking crisis, but inflation remained the most important source of concern and that borrowing costs would be increased more than expected if deemed necessary. Thursday's data pointed to better-than-expected tightness in the U.S. labor market, keeping the spotlight on inflationary pressures.