Gold hits 13-month high

The spot gold price reached $2,032, approaching the record level of $2,072 seen in the summer of 2020. While this figure is the highest level in 13 months, experts say that the precious metal may test the record level. Gold reached $2,032 per ounce, reaching its highest level in 13 months. The gold price, which rose following the weak economic data from the US, approached the record level of $2,072 in the summer of 2020. Analysts stated that in addition to the weak economic data, the negative impact of the banking crisis and the aggressive monetary tightening of central banks on the real economy also played a role in the rise in gold prices. It may test record levels The dollar index, which is calculated by the value of the dollar against the currencies of six countries, fell by around 1.5 percent this week, while analysts stated that gold, especially since the dollar has lost value, benefits from this as an interest-free investment tool. Analysts pointed out that the gold price could test record levels if the US nonfarm payrolls data to be released on Friday is weak and because trading volume will weaken in markets that will be closed on Friday due to the Easter holiday. It could take it to an all-time high Analysts, who pointed to the $2,050 level as resistance in the gold price, stated that exceeding this level could quickly take the gold price to an all-time high. Following the JOLTS Job Openings data in the US, which fell below 10 million for the first time since May 2021 yesterday, private sector employment remained below expectations today. According to data from the ADP Research Institute, private sector employment in the US had increased by 145 thousand people in March, below market expectations.